Hulst B V, the promoter of IT firm Coforge Ltd, on Monday sold 38 lakh shares of the company for more than Rs 878 crore.

Coforge Ltd was earlier known as NIIT Technologies.

As per bulk deal data available on the NSE and the BSE, the entity offloaded a total of 38 lakh shares.

It offloaded 9 lakh shares at an average price of Rs 2,312.03 on the BSE, taking the deal value to a little over Rs 208 crore.

On the NSE, Hulst B V sold 29 lakh shares at an average price of Rs 2,310.56 valuing the deal at more than Rs 670 crore.

Hulst B V is the promoter of Coforge Ltd and held 70.28 per cent stake in the company, as per the shareholding pattern as on September quarter.

Based on the September quarter figures, the promoter has offloaded 6.27 per cent stake in the company.

Shares of Coforge closed 7.30 per cent lower at Rs 2,207.30 apiece on the BSE. On the NSE, it declined by 7.70 per cent to end the day at Rs 2,196.75.