NIIT Ltd completes demerger exercise with its NLSL entity

NEW DELHI: NIIT has completed demerger of Corporate Learning Business into NIIT Learning Systems (NLSL) upon the Composite Scheme of Arrangement becoming effective as on May 24, 2023. This is in line with the reorganisation plan outlined by it.

“Consequent to the demerger, each shareholder of NIIT Limited would be allotted one share of NLSL for each share of NIIT Ltd held by them on the Record Date, which has been fixed as June 8, 2023,” a statement said.

Subsequently, NLSL would also get listed on the bourses - BSE/NSE after requisite regulatory approvals. NIIT Ltd will continue to focus on and operate the Skills and Careers business, while NLSL would operate the Corporate Learning Business, it said.

NIIT underlined its commitment to talent transformation to equip the workforce to cope with the rapidly changing environment.