💡 Board approves final steps for $550M acquisition of Encora, including funding and share allotment.
What Happened
Coforge Limited's Board of Directors has approved the final steps to complete the acquisition of Encora US Holdco, Inc. and Encora Holdings Limited. The board approved a second amendment to the Share Subscription and Purchase Agreement (SSPA), a $550 million loan facility from major banks, and the allotment of 9.38 crore equity shares to the sellers as consideration. The company also approved subscribing to shares of the target companies by infusing $550 million.
Key Details
- Company: Coforge Limited
- Event Type: M&A
- Filing Date: 23-Apr-2026 07:44:14
- NSE Filing: View Document
Why It Matters
This announcement marks the completion of a major strategic acquisition for Coforge. The $550 million deal, funded through a combination of equity issuance to the sellers and a secured loan from a consortium of global banks, significantly expands Coforge's business portfolio. The acquisition of Encora is expected to enhance Coforge's capabilities and market position in the technology services sector. The board also appointed two new non-executive directors from Advent Private Equity, indicating ongoing strategic oversight of the integration process.
Disclaimer: This is publicly available information sourced from NSE. Not investment advice.
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