New Delhi, May 2 (PTI) Hulst BV, promoter of Coforge Ltd (formerly NIIT Technologies), on Tuesday divested 3.5 per cent stake in the firm for Rs 887 crore through an open market transaction.

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

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

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

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

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

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

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)