Coforge buys 17% stake in Cigniti Technologies for Rs 645 cr via block deal

IT company Coforge on Friday bought a 17 per cent stake in Cigniti Technologies for Rs 645 crore through open market transactions.

According to the block deal data available with the BSE, Coforge purchased a total of 46,18,199 shares or 16.9 per cent stake in Cigniti Technologies.

The shares were acquired at an average price of Rs 1,398.5 apiece, taking the transaction value to Rs 645.85 crore.

Meanwhile, Kukunuru Madhava Lakshmi and Kukunuru Kumar Bapuji, public shareholders of Cigniti Technologies have exited the firm by selling their entire 6.83 per cent stake in the firm.

In addition, Sapna P and Venkata Subramanyam Chakkilam, one of the promoters of Ciginiti, also offloaded shares in the company.

A total of 46.18 lakh shares of Cigniti were sold by Kukunuru Madhava Lakshmi, Kukunuru Kumar Bapuji, Sapna and Chakkilam at the same price.

Shares of Cigniti Technologies fell 1.28 per cent to close at Rs 1,367.20 per piece on the NSE.

On Thursday, digital services and solutions .