Capital Group Buys 3.22 Lakh Coforge Shares for Rs 163 Crore

New Delhi, May 23 (PTI) Financial services company Capital Group on Thursday bought shares of IT company Coforge for Rs 163 crore through an open market transaction.

US-based Capital Group through its affiliate New World Fund Inc acquired shares of Coforge through a bulk deal on the NSE.

As per the data on the National Stock Exchange (NSE), New World Fund Inc purchased 3,22,554 shares or 0.5 per cent stake in Coforge.

The shares were picked up at an average price of Rs 5,073.66 apiece, taking the deal size to Rs 163.65 crore.

After the stake purchase, Capital Group's shareholding in Coforge increased to 5.52 per cent from 5.02 per cent in the company.

Capital Group through its two affiliates SmallCap World Fund Inc and New World Fund Inc hold a stake in the company.

Details of the sellers could not be ascertained.

On Thursday, shares of Coforge rose 3.55 per cent to close at Rs 5,084.45 apiece on the NSE.