BPEA EQT exits CoForge; sells entire 26.63% stake for Rs 7,683 cr

Hulst BV, an affiliate of private equity firm BPEA EQT on Thursday divested its entire 26.63 per cent stake in Coforge Ltd (formerly NIIT Technologies) for Rs 7,683 crore through an open market transaction.

The Netherlands-registered Hulst BV is owned and controlled by funds affiliated with BPEA EQT (formerly known as Baring Private Equity Asia).

HDFC Mutual Fund (MF), Aditya Birla Sun Life MF, Kotak Mahindra MF, SBI MF, Morgan Stanley Asia Singapore, ICICI Prudential Life Insurance Company, SmallCap World Fund Inc and Societe Generale were among the buyers of the shares of Coforge.

According to the bulk deal data available with the NSE, Hulst BV offloaded 1,62,71,260 shares, amounting to a 26.63 per cent stake in Coforge.

The shares were sold at an average price of Rs 4,722.15 apiece, taking the aggregate transaction size to Rs 7,683.53 crore.

At the end of June quarter, Hulst BV held more than 1.62 crore shares which is equivalent to 26.63 per cent stake in Coforge.

On Thursday, shares of Coforge zoomed 9.40 per cent to close at Rs 5,375 apiece on the NSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)