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An announcement from Coforge Limited ( (IN:COFORGE) ) is now available.
Coforge’s board has approved the execution of a share subscription and share purchase agreement to acquire Encora US Holdco, Inc. and Encora Holdings Ltd. (Cayman) in a share-swap transaction, issuing up to 93.8 million new equity shares at ₹1,815.91 each to existing Encora investors in exchange for their stakes in the target companies. The board also cleared a preferential issue of these shares to non-promoter investors, the grant of special rights including board and committee nominations and transfer restrictions to the incoming investors, the adoption of amended and restated articles of association to reflect the new rights structure, and an increase in authorised share capital from ₹77 crore to ₹102 crore to facilitate the enlarged equity base, collectively signaling a major expansion move and a reshaping of Coforge’s capital structure and governance framework.
More about Coforge Limited
Coforge Limited is an India-headquartered IT services and digital solutions company operating out of technology hubs such as Greater Noida and Gurugram. Listed on both BSE and NSE, it provides technology, consulting and digital transformation services to global clients, with a focus on complex, high-value IT projects across sectors.
Average Trading Volume: 61,084
Technical Sentiment Signal: Strong Buy
Current Market Cap: 582.1B INR
Find detailed analytics on COFORGE stock on TipRanks’ Stock Analysis page.