Hulst BV, promoter of Coforge Ltd (formerly NIIT Technologies), on Tuesday divested 3.5 percent stake in the firm for Rs 887 crore through an open market transaction.

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

According to the bulk deal data available with the BSE, Hulst BV offloaded 21.50 lakh shares, amounting to 3.5 percent stake in the firm.

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The shares were disposed of at an average price of Rs 4,125.44 apiece, taking the transaction value to Rs 886.96 crore.

Post the latest transaction, Hulst’s shareholding in the firm has reduced to 26.66 percent from 30.16 percent (as of March quarter).

In February this year, Hulst BV offloaded a 9.8 percent stake in IT company Coforge.

On Tuesday, shares of Coforge closed 1.33 percent lower at Rs 4,127.60 per piece on the BSE.

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First Published:May 2, 2023 9:30 PM IST