Chennai: NIIT Technologies has said Hulst BV has revised upwards its offer size to now acquire up to 21.8 million shares, or 35 per cent stake, in the information technology (IT) firm for up to Rs 3,045.4 crore.
In April, funds affiliated with Baring Private Equity Asia (BPEA) had bought about 30 per cent stake in the mid-sized IT services firm NIIT Technologies from NIIT Ltd and other promoter entities for about Rs 2,627 crore.
Hulst BV, an investment holding company registered in the Netherlands, is a part of BPEA. The deal triggered an open offer under which BPEA had said it will purchase up to 16.22 million shares at Rs 1,394 apiece.
“The revised offer size has been increased from 16,229,173 equity shares to 21,846,963 equity shares… Based on the revised offer size, the maximum consideration payable under this offer (assuming full acceptance) at the offer price… will be Rs 30,454,666,422,” NIIT Technologies said in a regulatory filing.