iStockAccording to BSE bulk deals data, Baring PE sold 16.3 million shares at ₹4,722 apiece. Some of the buyers include Aditya Birla Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, SBI Mutual Fund, Morgan Stanley Asia and Societe Generale.
Coforge, which gained 27% in the last three months, rallied 9.78% on Thursday to close at ₹5,391.
"Thursday's Coforge - Baring deal at one tranche at an ease with quality buyers is a testimony that India has now become a global destination for large investments," said Vasudev Jagannath, head of institutional equities at IIFL, the only banker for the deal.
The private equity firm has been offloading stake in tranches in Coforge, the erstwhile NIIT Technologies, over the past 2-3 years.
In May, Baring PE sold 3.5% in Coforge through the open market for ₹887 crore. In February, the private equity firm sold a 9.8% stake for ₹2,430 crore.
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