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PRESS TRUST OF INDIA
MUMBAI, Aug 21: NIIT Ltd has proposed to hike the FII holding in the company to 30 per cent of the paid up capital and has convened an EGM of its sharholders to seek the necessary approval.
FII stake in NIIT has already reached ceiling limit of 24 per cent of paid up capital and the company has been receiving requests from its present and prospective FIIs to increase the limit in order to enable wider participation and higher liquidity.
NIIT has drawn up plans for globalisation and believes that the increase in FII holding would bring NIIT valuations closer to global norms for similar organisations, a company release stated here on Friday. MUMBAI, Aug 21: NIIT Ltd has proposed to hike the FII holding in the company to 30 per cent of the paid up capital and has convened an EGM of its sharholders to seek the necessary approval.
FII stake in NIIT has already reached ceiling limit of 24 per cent of paid up capital and the company has been receiving requests from its present and prospective FIIs to increase the limit in order to enable wider participation and higher liquidity.
NIIT has drawn up plans for globalisation and believes that the increase in FII holding would bring NIIT valuations closer to global norms for similar organisations, a company release stated here on Friday.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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