NIIT Limited completed the Spin-Off of NIIT Learning Systems Limited.
May 23, 2023
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The Board of NIIT Limited (BSE:500304) announced the spin-off of NIIT Learning Systems Limited on January 28, 2023. As per the transaction, CLG Business Undertaking of NIIT Limited will be transferred to NIIT Learning Systems Limited. NIIT Limited shareholders will receive 1 share of NIIT Learning Systems for every share held in NIIT Limited. The transaction is approved by board of directors and shareholders of NIIT Limited and is subject to approval by Hon'ble National Company Law Tribunal. As of May 19, 2023, the transaction is approved by Hon'ble National Company Law Tribunal. The record date of the transaction is June 8, 2023. As of May 24, 2023, NIIT Ltd completes demerger of Corporate Learning Business into NIIT Learning Systems.
The Board of NIIT Limited (BSE:500304) completed the spin-off of NIIT Learning Systems Limited on May 24, 2023.
NIIT Limited is an India-based information technology services company. The Company is engaged in providing skills and talent development solutions to individuals, enterprises, and institutions. The Company provides a range of managed training services, which includes curriculum design and custom content development, learning delivery, learning administration, strategic sourcing, learning technology and advisory services. The Company provides specialized solutions, which include customer education, gamification, augmented reality and virtual reality, application rollouts, content curation and learner engagement and talent pipeline as a service. It offers content development, with capabilities that include gaming and simulation, two-dimensional (2D) and three-dimensional (3D) animation, and high-end video. Its content curation solution uses a process-driven approach with structured learning pathways designed to filter content to the learner in a phased manner.