Coforge Secures Key RBI Clearance for Over $1 Billion Encora Acquisition

Coforge Limited ( (IN:COFORGE) ) has provided an announcement.

Coforge has disclosed that it has received Reserve Bank of India approval for overseas direct investment exceeding USD 1 billion, a key regulatory clearance for its planned acquisition of Encora. The company had earlier secured antitrust clearance in the U.S., shareholder approval for funding and rights, and competition approvals in other jurisdictions, and says remaining regulatory consents are at an advanced stage, signalling that the cross-border Encora deal is moving closer to completion.

The fresh RBI nod materially de-risks the financing and execution of Coforge’s largest overseas investment to date and underscores the scale of its expansion ambitions. Once the remaining approvals are obtained, the Encora transaction is expected to strengthen Coforge’s international footprint and could reshape its competitive position in the global IT and digital engineering market, a development closely watched by investors and other stakeholders.

More about Coforge Limited

Coforge Limited is an India-headquartered IT services and digital solutions company listed on the BSE and NSE. It focuses on delivering technology, consulting and outsourcing services to global clients, operating across multiple jurisdictions and regulated markets.

Average Trading Volume: 151,350

Technical Sentiment Signal: Sell

Current Market Cap: 384.3B INR

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