Motilal Oswal MF Increases Stake in Coforge with Rs 231 Crore Investment

Motilal Oswal Mutual Fund purchased additional shares in IT firm Coforge, investing Rs 231 crore through an open market transaction. The acquisition increased Motilal Oswal MF's stake in Coforge from 8.06% to 8.58%. Meanwhile, Coforge's Australian subsidiary completed the acquisition of TMLabs.

On Thursday, Motilal Oswal Mutual Fund (MF) bolstered its investment in IT company Coforge by purchasing additional shares worth Rs 231 crore through an open market deal.

NSE data indicates that the mutual fund acquired 3.5 lakh shares, which is a 0.52% stake, at an average price of Rs 6,605.13 each, elevating its overall holding in Coforge to 8.58% from a previous 8.06%.

The seller details were not available from the National Stock Exchange. Concurrently, Coforge's wholly-owned subsidiary in Australia has finalized the acquisition of TMLabs.

(With inputs from agencies.)