No shares sold - disclosure triggered by Cigniti-Coforge merger
COFORGE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.1 pts less than Nifty Midcap 150 and 0.9 pts more than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Rajasthan Global Securities Pvt Ltd, a non-promoter, disclosed under SEBI Reg 29(2) that its holding dropped from 5.55% in Cigniti Technologies to 0.34% in Coforge Limited after the merger scheme became effective. No shares were sold or transferred. Its 15,16,413 Cigniti shares were cancelled and replaced with an equal number of Coforge shares at the swap ratio. The percentage fall is purely mathematical due to Coforge's much larger share capital of about 44.27 crore shares of Rs 2 each.
Procedural filing - no shares sold, so no market impact. The stake fall from 5.55% to 0.34% is arithmetic, driven by the merger.