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The latest announcement is out from Coforge Limited ( (IN:COFORGE) ).
Coforge Limited’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) from existing investors via a share swap. As consideration, Coforge will issue up to 93,796,508 new equity shares on a preferential, private placement basis to non-promoter investors at Rs 1,815.91 per share, valuing the transaction at about Rs 17,032.6 crore, subject to shareholder and regulatory approvals.
The board also cleared granting special rights to the incoming investors, including board and committee nomination rights, lock-in provisions, and transfer restrictions, alongside amending and restating Coforge’s articles of association to embed these terms. In preparation for the enlarged equity base, the company will increase its authorised share capital from Rs 77 crore to Rs 102 crore by creating an additional 125 million equity shares, a step that materially reshapes its capital structure and governance framework as it integrates the Encora assets.
More about Coforge Limited
Coforge Limited is an Indian information technology services company operating from special economic zones in Greater Noida and Gurugram, providing technology and digital solutions to global clients across sectors. The company is listed on both BSE and NSE and uses strategic acquisitions and equity issuances to expand its service capabilities and international footprint.
Average Trading Volume: 61,084
Technical Sentiment Signal: Strong Buy
Current Market Cap: 582.1B INR
See more insights into COFORGE stock on TipRanks’ Stock Analysis page.