NIIT Board Approves Demerger
This approval includes the spinning off, through the process of demerger, of global software solutions business of NIIT into NTL, while retaining the global education, learning solutions, knowledge solutions and education software businesses in the de-merged NIIT, according to information released by the company.
The capital and reserves allocation have been proposed in a manner that in lieu of every 100 shares of Rs 10 each held by shareholders of NIIT Limited, they shall receive 50 shares of demerged NIIT Limited and 75 shares of NTL, both of face value of Rs 10 each.
Consequent to the scheme, 75 per cent of the equity share capital of NTL shall be held by the shareholders of NIIT Limited. The balance 25 per cent shall be held by demerged NIIT Limited through a wholly-owned subsidiary.
|Consequent to the scheme, 75% of the equity share capital of NTL shall be held |
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