Board Meeting28 May 2024, 03:13 am
Coforge Ltd Completes Qualified Institutions Placement of Equity Shares, Acquires Cigniti Technologies
AI Summary
Coforge Ltd has successfully completed a Qualified Institutions Placement (QIP) of equity shares, determining the allocation of up to 48,69,565 Equity Shares at an Issue price of ₹ 4,600 per Equity Share. Additionally, Coforge has entered into share purchase agreements with Cigniti Technologies and its promoters, acquiring 14,875,358 equity shares of Cigniti at ₹ 1,415 per share. The acquisition is subject to certain conditions precedent, including the receipt of necessary approvals. Coforge has opened an escrow account and made a cash deposit of ₹ 101 million for the Open Offer.
Key Highlights
- Coforge Ltd completes Qualified Institutions Placement of equity shares
- Allocation of up to 48,69,565 Equity Shares at an Issue price of ₹ 4,600 per Equity Share
- Acquisition of 14,875,358 equity shares of Cigniti at ₹ 1,415 per share
- Subject to necessary approvals and completion of conditions precedent
- Coforge opens escrow account and makes cash deposit of ₹ 101 million for Open Offer