COFORGE · price
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Awaiting price reaction for this filing.
Coforge has submitted the final Monitoring Agency Report from CRISIL Ratings for the quarter ended March 31, 2025, confirming full utilization of QIP proceeds raised in May 2024. The QIP had gross proceeds of Rs 22,400 million and net proceeds of Rs 22,045.29 million, earmarked entirely for the proposed acquisition of equity shares of Cigniti Technologies. During Q4 FY25, Rs 1,037.15 million was deployed, taking the cumulative utilization to Rs 22,045.29 million (100%), with no unutilized balance remaining. CRISIL confirmed no deviation from the stated objects, no delays, and no material changes to the means of finance. All monitoring and escrow accounts stood at nil balance as of March 31, 2025, marking the closure of this QIP monitoring exercise.
This is a routine, clean closure filing — investors can be reassured that the entire QIP fund was used for its stated purpose (Cigniti acquisition) with no diversions or delays. No new price catalyst, but it removes lingering uncertainty around unutilized QIP proceeds.