Coforge Limited has informed the Exchange regarding Outcome of Board Meeting held on April 23, 2026.
COFORGE · price
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Coforge Limited has completed its acquisition of Encora US Holdco, Inc. and Encora Holdings Limited (collectively, Encora). The company allotted 93.8 million equity shares at INR 1,815.91 per share (total value ~INR 17,033 crore / USD 1.8 billion) to Encora Holdco Limited and AI Altius Parent (Cayman) Limited as share swap consideration. To fund this, Coforge availed a USD 550 million secured loan facility from JPMorgan, Bank of America, Citibank, HSBC, and BNP Paribas at 4.6% fixed interest for 3 years. The company will subscribe to Encora shares (USD 280M for US Holdco and USD 270M for Holdings). Post-allotment, paid-up capital increased from 33.6 million to 43 million shares. Two new non-executive directors (Shweta Jalan and Atin Hirachand Jain from Advent Private Equity) were also appointed.
The acquisition is highly dilutive — share count increases by ~28%, reducing EPS for existing shareholders in the short term. However, it significantly expands Coforge's scale and global presence. The USD 550M debt at 4.6% is a sizable obligation that increases leverage. Long-term impact depends on Encora's integration and revenue synergies.