CNBC TV 18 reported that the Kuwait Investment Authority (KIA) has bought shares in the Indian information technology company Coforge, after the Hong Kong-based Barings B.E. sold 9.83 percent of its stake in Coforge through a market deal.
The sale of the stake by Barings PE in Coforge, formerly known as NIIT Technologies Ltd, is part of the company’s strategy to exit mature companies and invest in new and emerging opportunities.
After the deal, Barings’ stake in Coforge decreased to 30 percent, compared to 70 percent as of September 2020. Other buyers in the Indian company include Nomura India Investment Fund and Aditya Birla FlexiCap Fund.
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