Coforge is buzzing today, with an almost 3-times rise in volumes. It opened 2% higher at Rs.5605, going up to an intraday high at Rs.5874.95, up 7%. Its 52-week high is at Rs.6029.40.
Earlier known as NIIT Technologies, the company, promoted by Barings PE Asia, said that it looking at filing papers with the SEC for an IPO through ADR.
The objective is to generate liquidity and the ADR listing with give a partial exit to Barings, which currently holds 50.2% stake in the company.