Baring Private Equity Asia sells 10% stake in Coforge through a block deal

Baring Private Equity Asia, the promoter of Coforge (formerly NIIT Technologies), on Monday, divested nearly 9.8 per cent stake in the IT company at an estimated value of Rs 2,430 through a block deal.

According to bulk details data available with the National Stock Exchange, Baring PE sold a total of 6 million shares at a price of Rs 4,050 apiece. 

On Monday, Business Standard had reported that Baring PE may sell part of its 40 per cent stake in Coforge via block deals. 

In April 2019, Baring PE had signed an agreement to buy about a 30 per cent