Home / Companies / News /  Baring PE Asia offloads 3.14% stake in Coforge for 616 crore

MUMBAI : Baring Private Equity Asia (BPEA) on Monday sold a 3.14% equity stake in IT services firm Coforge Ltd, aggregating to 616 crore via an open market transaction.

Hulst BV, an entity controlled by Baring, sold 19 lakh shares at an average price of 3,242.26 per share on the Bombay Stock Exchange (BSE), bulk deals data available on the exchanges showed.

According to the latest shareholding pattern Hulst BV held 63.99% stake or about 3.88 crore equity shares in Coforge.

In October, Hulst BV had sold 6.27% or 29 lakh shares in Coforge for 2310.56 per share totalling 878 crore.

Coforge Ltd reported a 17% rise in consolidated net profit at 133 crore for the quarter ended March 2021 against a net profit of 113.6 crore in the year-ago period. Revenue from operations rose 13.7% to 1,261.5 crore in the January-March quarter of 2021 over 1109.30 crore in the year-ago period.

From the beginning of the calendar year, shares of Coforge have gained 19.06% against a rise of 3.67% in the benchmark index, Sensex.

Shares of Coforge closed 4.59% lower at 3221.85 apiece on Monday on the BSE, while the benchmark index, Sensex gained 0.60% to close at 49,502.41 points.

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