Coforge Limited has informed the Exchange about Amalgamation/Merger - Receipt of Observation Letter with no adverse observations from BSE Limited and noobjection from the National Stock Exchange of India Limited
COFORGE · price
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Awaiting price reaction for this filing.
Coforge Limited has received regulatory clearance from both stock exchanges for its proposed merger with Cigniti Technologies Limited. BSE issued an observation letter with 'no adverse observations' and NSE issued an observation letter with 'no objection' on July 18, 2025. Coforge will act as the Transferee Company and Cigniti Technologies as the Transferor Company under the scheme filed under Sections 230-232 of the Companies Act, 2013. The observation letters came with standard SEBI comments on disclosure requirements regarding pending litigations, share swap ratio, financial details, and liabilities of the transferor company. The scheme is valid for six months and Coforge will now proceed to file it with the National Company Law Tribunal (NCLT) for final approval.
This is a positive regulatory milestone that moves the Coforge-Cigniti merger closer to completion. Shareholders should expect further updates on the share swap ratio and NCLT proceedings. The deal still requires NCLT approval and consent from shareholders and creditors before it can be finalized.