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The latest announcement is out from Coforge Limited ( (IN:COFORGE) ).
Coforge Limited has initiated a postal ballot process to seek shareholder approval for a series of key corporate actions, including an increase in authorised share capital, a preferential equity issue via a share swap, the grant of special rights under a share subscription and purchase agreement with corresponding changes to its Articles of Association, an enhancement of investment limits under Section 186 of the Companies Act, 2013, and a potential capital raise through a Qualified Institutional Placement or other permitted instruments. The approvals, to be obtained exclusively through remote e‑voting facilitated by NSDL and conducted in line with SEBI and MCA circulars, signal Coforge’s intent to create headroom for further investments, strategic transactions and capital-raising initiatives, moves that could reshape its capital structure and strengthen its financial and strategic flexibility for future growth, while requiring active participation and consent from its shareholder base.
More about Coforge Limited
Coforge Limited is an India-headquartered information technology services company, operating out of special economic zones in Greater Noida and Gurugram. Listed on both BSE and NSE, it focuses on providing technology and digital solutions to global clients, and maintains compliance with Indian securities and corporate governance regulations as a publicly traded entity.
Average Trading Volume: 61,084
Technical Sentiment Signal: Strong Buy
Current Market Cap: 582.1B INR
For detailed information about COFORGE stock, go to TipRanks’ Stock Analysis page.