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Home / Companies / News /  Baring PE Asia sells 5.12% stake in Coforge for Rs1,008 crore

Baring Private Equity Asia (BPEA) on Wednesday sold a 5.12% equity stake in IT services firm Coforge Ltd, aggregating to 1008 crore via an open market transaction.

Hulst BV, an entity controlled by Baring, sold 31 lakh shares at an average price of 3,250.58 per share aggregating to 1007.68 crore, 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.

Last week, Hulst BV sold 3.14% stake in the company for 616 crore and in October 2020, it again sold 6.27% or 29 lakh shares 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 20.26% against a rise of 4.51% in the benchmark index, Sensex.

Shares of Coforge closed 2.09% higher at 3433.20 apiece on Wednesday on the BSE, while the benchmark index, Sensex lost 0.58% to close at 49,902.64 points.

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