Acquisitions10 April 2026 at 02:01 pm
Coforge gets nod for ₹1,815.91/share preferential issue for Encora acquisition
AI Summary
Coforge Ltd has received in-principle approval from stock exchanges for a preferential issue. This approval allows the company to issue and allot 93,796,508 Equity Shares at ₹1,815.91 per share. This preferential issue is a crucial step in the previously announced acquisition of Encora US Holdco, Inc. and Encora Holdings Ltd. The receipt of this approval signifies the successful completion of the regulatory review process for the Encora acquisition. Coforge plans to finalize all closing formalities related to this transaction within the next 15 days.
Key Highlights
- Coforge received in-principle approval for a preferential issue.
- 93,796,508 equity shares to be issued at ₹1,815.91 per share.
- The preferential issue is for the acquisition of Encora US Holdco and Encora Holdings.
- This marks the successful completion of regulatory review for the Encora acquisition.
- Closing formalities for the acquisition are expected within 15 days.