Coforge Acquires 11% Stake in Cigniti Technologies for Rs 426 Crore

New Delhi, Jul 4 (PTI) Digital services and solutions provider Coforge on Thursday acquired an 11 per cent stake in IT company Cigniti Technologies for Rs 426 crore through an open market transaction.

According to the bulk deal data available with the NSE, Coforge purchased 30,21,293 shares, amounting to an 11 per cent stake in Cigniti Technologies.

The shares were picked up at an average price of Rs 1,412.25 apiece, taking the transaction value to Rs 426.68 crore.

Meanwhile, Ashika Credit Capital sold 1.99 lakh shares of Cigniti Technologies at an average price of Rs 1,395.07 per piece, taking the deal size to Rs 28 crore.

Details of the other buyers of Cigniti Technologies' shares could not be ascertained.

Shares of Cigniti Technologies fell 0.55 per cent to close at Rs 1,380 per piece on the NSE.