NIIT Ltd BUYBACK 2021 | LATEST NIIT Ltd SHARE NEWS | NIIT BUY BACK RECORD DATE | NIIT Ltd BUYBACK PRICE
NIIT Ltd Board approves Rs 237-crore buyback plan.
“The Board of Directors of the company at its meeting held on December 24, 2020, has inter-alia approved a proposal for buyback of up to 9,875,000 fully paid-up equity shares of the company for an aggregate amount not exceeding Rs 2,370,000,000,” a regulatory filing said.
The buyback price has been fixed at Rs 240 apiece.
The company had announced a buyback of up to 9,875,000 equity shares having a face value of Rs 2 each.
IT firms Tata Consultancy Services and Wipro have also announced buyback offers recently. TCS’ mega Rs 16,000-crore buyback offer commenced on December 18 and is slated to close on January 1, 2021.
Wipro’s up to Rs 9,500-crore share buyback programme will open on December 29 and close on January 11, 2021.
NIIT Ltd Share Buyback Offer Details
NIIT Share Buy Back Plan | Latest NIIT Stock News | NIIT Ltd Buyback Shares
| NIIT Ltd Buyback Type: | Tender Offer |
| NIIT Ltd Buyback Record Date: | FEB 24, 2021 |
| NIIT Ltd Buyback Offer Amount: | ₹237 crore |
| Date of Board Meeting approving the proposal: | DEC 24, 2020 |
| Date of Public Announcement: | DEC 24, 2020 |
| NIIT Buyback Offer Size: | 6.798% |
| Buyback Number of Shares: | 98,75,000 |
| Price Type: | Tender Offer |
| Face Value (FV): | 2 |
| NIIT Ltd Buyback Price: | ₹240 Per Equity Share |
| NIIT Ltd Buyback Premium: | 21% |
Also Check:- Latest Share Buyback 2021
Upcoming Buyback 2021
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NIIT Ltd Buyback Important Dates
In this section we have covered all important dates related to “NIIT Buyback Date”. Dates are updated as they are announced. The most noted dates are NIIT Ltd record date and NIIT Ltd buyback open and close dates, which one should use to participate in buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for NIIT Buyback proposal | 24.12.2020 |
| NIIT Ltd Buyback Approval date | 24.12.2020 |
| Public Announcement of NIIT Buyback | 24.12.2020 |
| NIIT Ltd Buyback Record Date | 24.02.2021 |
| NIIT Ltd Buyback opens on/Buyback Opening Date | 12.04.2021 |
| NIIT Ltd Buyback closes on/Buyback Closing Date | 28.04.2021 |
| Cut-off date to receive completed tender forms by Registrar | 30.04.2021 |
| Cut-off date for verification by the Registrar | 30.04.2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar | 07.05.2021 |
| Last date of settlement of bids on the stock exchange | 07.05.2021 |
| Last date to return unaccepted shares by Registrar | 07.05.2021 |
| Last date of extinguishment of Equity Shares | 07.05.2021 |
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NIIT Ltd Share Holding Pattern as of SEP 2020
Stock Holding table gives a clear picture on retail investor holdings of NIIT shares which helps investor to decide on participating in buyback offer. The less number of retail holdings means higher chance of acceptance in NIIT Ltd buyback under retail category which is equal to higher profit.
Shareholding Pattern – NIIT Limited.
| Category | No. of shares | Percentage |
|---|---|---|
| Promoters | 4,85,87,486 | 34.28% |
| Foreign Institutions | 3,14,16,213 | 22.16% |
| NBFC and Mutual Funds | 1,19,63,475 | 8.44% |
| Central Government | 15,000 | 0.01% |
| Others | 1,18,65,717 | 8.37% |
| General Public | 3,30,92,792 | 23.34% |
| Financial Institutions | 47,98,774 | 3.39% |
NIIT Ltd Buyback Record Date
Tentative Record Date To Participate In NIIT Buyback is February 24, 2021
How to Apply for NIIT Ltd Buyback?
Now if you are wondering ‘how do I apply for a buyback?’ we’ve got you covered. When it comes to share-buyback schemes, the capital market regulator has compulsorily reserved a buyback portion of 15% for retail investors who possess in-hold shares in a company worth upto ₹2 lakhs.
This percentage is also taking into account the scrip’s market value as seen on the record date of the buyback offer.
During the application process of share buyback, you will be given a tender form by the company. This form is where you enter the number of shares of that company that you wish to tender.
There is a ratio of acceptance attached to the tender form which signifies how likely the company is to accept your request for share buybacks. Different companies have different ratios for share buybacks.
Here is what you can expect in a typical tender form given by a company. There are normally three fields as follows:
- The number of shares you hold from the said company as on the record date
- The number of shares that fit the eligibility criteria for buybacks
- The number of shares that one is applying for a buyback.
Apply NIIT Ltd buyback from Zerodha
Here is complete method from Zerodha
- Hover your mouse on the stock and select ‘Options’ and click on ‘Place order’
- Enter the number of shares you want to tender and click on ‘Submit’
- Buyback/Takeover/Delisting orders are collected until 6:00 PM, one trading day prior to the offer end date. Ensure to hold sufficient quantities in your demat account before closure of the offer end date. (Do not sell the shares after placing the order). Only shareholders who hold the shares as on the record date will be eligible for the corporate action.
Latest & Upcoming Buybacks 2021
| WIPRO Buyback | GAIL Buyback | Engineers India Buyback |
| NMDC Buyback | TCS Buyback | Ajanta Pharma Buyback |
| HPCL Buyback | NTPC Buyback | IIFL Securities Buyback |
NIIT Ltd Buyback Acceptance Ratio
Profit from the buyback on the bases of acceptance Ratio:
Buy 833 Shares at CMP of Rs.199 (2,00,000/240=833)
| NIIT Buyback Acceptance Ratio | 33% | 50% | 75% | 100% |
| Amount Invested in Buyback | 165767 | 165767 | 165767 | 165767 |
| No. of Shares buyback | 249 | 416 | 624 | 833 |
| Buyback Profit | 10,209 | 17,056 | 25,584 | 34,153 |
| Profit | 6.1% | 10.2% | 15.4% | 20.6% |
Here is what you can expect in a typical tender form given by a company. There are normally three fields as follows NIIT Ltd Buyback Acceptance Ratio:
- The number of shares you hold from the said company as on the record date
- The number of shares that fit the eligibility criteria for buybacks
- The number of shares that one is applying for a buyback.
Company Contact Information
NIIT Limited
85, Sector-32, Institutional
Gurgaon 122001, India
Tel: +91 (124) 4293000
Fax: +91 (124) 4293333
Email: info@niit.com
Registered Office:
8, Balaji Estate, First Floor
Guru Ravi das Marg, Kalkaji
New Delhi 110 019, India
CIN: L74899DL1981PLC015865
www.niit.com
Download PDF of NIIT Ltd Buyback Offer
Registrar Contact Information
In case of any query, the shareholders may contact the Registrar & Transfer Agent on any day except Sunday and Public
Holiday from 10:00 a.m. IST to 5:00 p.m. IST i.e. Monday to Friday and from 10:00a.m. IST to 1:00 p.m. 1ST on Saturday, at the following address:
ALANKIT ASSIGNMENTS LIMITED
205-208, Anarkali Complex, Jhandewalan Extension, New Delhi -110055
Tel: +91 11 42541234/2354; Fax: +91 11 23552001
Contact Person: Mr. VirenderSharma
Email: niitbuyback@alankit.com; Website: www.alankit.com
SEBI Reg No: INR000002532 Validity Period: Permanent
CIN: U74210DL1991PLC042569
***Related Queries***
NIIT Ltd Buyback Important dates – Record Date, Buyback Start and End date. Buyback Details – Buyback Price, Buyback Offer Size, Buyback Number of Shares, Retail Investors limit. What is the record date for NIIT Ltd buyback? How can I apply in NIIT Ltd Buyback offer?
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NIIT Ltd Buyback 2021 FAQs:
NIIT LTD buyback 2021 record date will be February 24, 2021.
NIIT LTD buyback 2021 announcement date is December 24, 2020.
The company has fixed the price at ₹240 Per Equity Share.
As per the NIIT LTD record date (24.02.2021) you need to have NIIT LTD shares in your demat account. You can participate in buyback after having the stock in your account.
Once you have shares in demat, you can participate in the buyback process which is opening from [12.04.2021], by selling your shares through your broker on NSE or BSE. Then on [Not Announced] the payment will be given to you for accepted shares and unaccepted shares will be returned to your demat account.
Its all depend on NIIT LTD acceptance ratio which usually announce with Letter of Offer.
The percentage of proportionate acceptance varies from company to company. This percentage can be also 100% which means that company buys all of your shares.
Steps to participate in NIIT LTD buyback:
On Record date (24.02.2021) you must have share of NIIT LTD in your demat account. Depositing of share in your DP account usually take T+2 days, so you need to plan your buying accordingly.
After that company announces buyback open and close window, so you need to tender your share in buyback process. You can do this online or contact your broker to tender your share in buyback, so he can place a request on your behalf.
Next step is with registrar – depend on buyback acceptance ratio, your shares will be sold in buyback process and fund will directly debited in your bank account. Any rejected share will be revert in your demat account which you can sell in open market or hold for long term gain.
Share holders who hold less than 2 lakh worth of shares are consider in Retail Category. All others will consider in General Category. Last trading price on record date will be used to calculate the eligibility criteria.
NIIT LTD Buyback opening date: (12.04.2021)
NIIT LTD Buyback closing date: (28.04.2021)
This is the window when you need to submit your application for proposal for share buyback.
As this is a buyback tender offer, shares are accepted in proportionate basis. Proportionate acceptance / rejection will be returned back to the eligible shareholders directly by the Registrar on or before (Coming Soon).
NIIT LTD plans to buy back up to 98,75,000 equity shares of the company for an aggregate amount not exceeding 237 crore. NIIT LTD proposed to buy back shares at ₹240 per share.
The company had announced the mega buyback offer as part of its long-term capital allocation policy of returning excess cash to shareholders.