The shares had been acquired at a median value of Rs 1,398.5 apiece, taking the transaction worth to Rs 645.85 crore.
In the meantime, Kukunuru Madhava Lakshmi and Kukunuru Kumar Bapuji, public shareholders of Cigniti Applied sciences have exited the agency by promoting their total 6.83 per cent stake within the agency.
As well as, Sapna P and Venkata Subramanyam Chakkilam, one of many promoters of Ciginiti, additionally offloaded shares within the firm.
A complete of 46.18 lakh shares of Cigniti had been bought by Kukunuru Madhava Lakshmi, Kukunuru Kumar Bapuji, Sapna and Chakkilam on the identical value. Shares of Cigniti Applied sciences fell 1.28 per cent to shut at Rs 1,367.20 per piece on the NSE. On Thursday, digital providers and options supplier Coforge acquired an 11 per cent stake in IT firm Cigniti Applied sciences for Rs 426 crore. In Might this 12 months, Coforge mentioned its board of administrators had authorised the acquisition of a 54 per cent stake in Cigniti Applied sciences.
Coforge has agreed to enter right into a share buy settlement with the promoters and choose public shareholders of Cigniti, topic to execution of definitive agreements and completion of sure recognized circumstances precedent.
Final week, the Competitors Fee of India cleared IT agency Coforge’s proposal to amass a majority stake in Cigniti Applied sciences.
Baring Non-public Fairness Asia-promoted Coforge is an IT and IT-enabled providers (ITES) supplier.
