The founder-promoters of NIIT Technologies are soon hoping to exit the company, reports Economic Times.
According to the news journal, big names including Tech Mahindra have also been approached for the deal. However, the company has declined to comment: “there is nothing to report,” it said. The deal could bring an offer for an extra 26% of the company. This means, the new owner could acquire stake of more than 51% “in the mid-tier firm.”
A source close to the matter said: “There are multiple partners looking to exploit run-up in the stock and upbeat mood in the space. They have allowed the company to be run under a professional management. A new CEO, Sudhir Singh, is taking off from where the previous one left off.”
“Similar unsubstantiated rumours and queries have been coming to us for many years. We don’t have any comments to offer and there is nothing to report,” an NIIT spokesperson told ET.