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An announcement from Cigniti Technologies Limited ( (IN:CIGNITITEC) ) is now available.
Cigniti Technologies Limited has announced that its court-sanctioned Scheme of Amalgamation with Coforge Limited has become effective following the filing of the National Company Law Tribunal order with the Registrar of Companies in Haryana. As a result, Cigniti is now amalgamated into Coforge and stands dissolved without winding up, with the appointed date of the merger set as April 1, 2025.
The planned Cigniti board meeting to approve standalone financial results has been cancelled, since its financials will now be subsumed within Coforge’s standalone results. Coforge’s board is scheduled to consider fixing a record date to determine Cigniti shareholders whose existing equity shares will be cancelled and who will receive new Coforge shares according to the approved swap ratio, marking a key step in integrating the shareholder base.
More about Cigniti Technologies Limited
Cigniti Technologies Limited, now described as a Coforge Company, operates in the IT services sector, focusing on software and technology solutions through its global delivery centers. The company is headquartered in Hyderabad with a registered office in Gurugram, indicating a strong presence in India’s technology and outsourcing corridors.
Average Trading Volume: 7,843
Technical Sentiment Signal: Buy
Current Market Cap: 32.49B INR
For detailed information about CIGNITITEC stock, go to TipRanks’ Stock Analysis page.