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.
