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Coforge Clears Key Regulatory Hurdle in Cigniti Merger, Eyes NCLT Nod Next

Updated: July 18, 2025 17:09

Image Source : Mint
Coforge Ltd has received crucial approvals from BSE and NSE for its proposed amalgamation with Cigniti Technologies, marking a major milestone in the consolidation of two digital engineering powerhouses.
 
Key highlights:
  • Both exchanges issued observation letters with no adverse remarks, allowing Coforge to proceed with filing the scheme before the National Company Law Tribunal.
  • The merger, first announced in December 2024, aims to integrate Cigniti into Coforge, combining their businesses, shareholders, and creditors.
Structural details:
  • Revised share swap ratio post stock split: 1 Coforge share (₹2 face value) for every 1 Cigniti share (₹10 face value).
  • Coforge currently holds a 54% stake in Cigniti and plans to absorb the remaining equity through this scheme.
Strategic outlook:
  • The merger is expected to unlock synergies in AI, assurance services, and digital transformation.
  • Shareholders will receive detailed disclosures on rationale, financials, and postmerger structures.
Sources: Business Upturn, HDFC Sky, Economic Times, Angel One, Business Standard

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