New Delhi, 25th May 2023: Following the reorganization plan announced during Q3 FY22 results in Jan 2022, the Board of NIIT Limited has announced that the Corporate Learning Business undertaking has been transferred to NIIT Learning Systems Limited (NLSL) upon the Composite Scheme of Arrangement becoming effective as on May 24, 2023. Going forward, NIIT Limited will continue to focus on and operate the Skills & Careers business, whereas NLSL would operate the Corporate Learning Business. Consequent to the demerger, each shareholder of NIIT Limited would be allotted one share of NLSL for each share of NIIT Limited held by them on the Record Date, which has been fixed as June 8, 2023. Subsequently, NLSL would also get listed on BSE/NSE post requisite regulatory approvals. This demerger recognizes the distinct market dynamics, customer segments, product offerings, and growth trajectories of each business.