Promoter Hulst BV sells 5.1% stake in Coforge via bulk deal

Mumbai: Promoter Hulst BV sold 31 lakh shares of information technology solutions company Coforge on Wednesday at an average price of Rs 3,250.58 per share, BSE data showed. This amounts to 5.1% stake in the company. Hulst BV held 63.99% stake or 3.88 crore shares in Coforge at the end of the March quarter.

The name of the buyer in Wednesday’s bulk deal could not be ascertained immediately. Coforge was earlier known as

.

Hulst BV, an entity controlled by Baring Private Equity Asia, had sold 19 lakh shares of Coforge at Rs 3,242.26 per share on May 10, according to past bulk deal data on the BSE. On the same date, Axis Mutual Fund had bought 6.17 lakh shares of Coforge at Rs 3,240 per share.

Prior to that, Hulst BV had sold 9 lakh shares of Coforge on October 26 last year on the BSE at an average price of Rs 2,312.03 per share and sold 29 lakh shares on the NSE at Rs 2,310.56 per share.

Coforge had earlier this month reported a 17% rise in consolidated net profit for the March quarter at Rs 133 crore, from Rs 113.6 crore net profit in the same period a year ago.