Founders sell 7.4% stake in NIIT Tech to fund university venture

Two founders of NIIT, Rajendra S Pawar and Mr. Vijay K Thadani, have sold a combined stake of 7.4% in NIIT’s technology subsidiary, NIIT Technologies.

In a statement released on their behalf, they said the money will be used to fund the expansion of NIIT University (NU).

NIIT University, a Not for Profit University, has been billed as a world class, global educational institution in the area of Computer Science, Bio-Technology, Management and Education Technology based in Neemrana, Rajasthan.

The two are currently listed as promoters of NIIT Tech. Rajendra Pawar is widely credited with heralding the IT-training boom in India by founding NIIT nearly three decades ago. NIIT is today India’s largest private-sector technical training provider and has operations in China and other countries.

NIIT Tech provides technologies and software in the field of education and training.

NIIT University recently commenced its new academic year with B-Tech programmes in Computer Science, Bio-Technology and Electronics & Communication Engineering, M-Tech programmes in Geographic Information Systems, the MBA program and two Phd programs in Education Technology and Bio-Technology at its campus.

Earlier this year, NU placed 100% of its first batch of MBA students.

NU has a 100-acre, fully-residential campus and is targeting to be a ‘University of the Future’ to provide exceptional education based on the four core principles that make Education Industry-linked, Technology-based, Research-driven and Seamless.