NIIT Learning Systems Ltd., which offers Managed Training Services to ‘Fortune 1000 and Global 500 corporations’ across North America and Europe, on Tuesday got listed on the Bombay Stock Exchange and the National Stock Exchange.
NIIT’s Managed Training Services that operated its Corporate Learning Business has been demerged from NIIT Ltd. to NIIT Learning Systems Ltd. upon the approval of the Composite Scheme of Arrangement.
The demerger became effective on May 24, 2023, post approval from various stakeholders and the NCLT, NIIT Learning Systems Ltd. said in a statement.
Consequent to the demerger, each shareholder of NIIT Ltd. has been allotted one share of NIIT Learning Systems Ltd. for each share of NIIT Ltd. held by them on the record date.
Rajendra Singh Pawar, Co-founder NIIT and Chairperson of NIIT Learning Systems Ltd. in a statement said, “The Managed Training Services Business has grown to be ranked in the Top 5 globally in the Learning Outsourcing space. The global corporate training market is currently underpenetrated and NIIT MTS has an opportunity to become a leader in this space.”
Vijay K. Thadani, Co-founder, NIIT and Vice Chairman & Managing Director, NIIT Learning Systems said, “Our comprehensive, high impact managed learning solutions weave together the best of learning theory, technology, operations, and services to enable a thriving workforce. This unique, differentiated, and compelling moat makes the company a sustainable value creator.”
