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.
