Court Convened Equity Shareholders meeting on December 06, 2025
Awaiting price reaction for this filing.
Cigniti Technologies has called a court-ordered equity shareholders' meeting on Saturday, December 6, 2025 at 3:00 PM (via video conferencing) to vote on its proposed merger into Coforge Limited. The NCLT Chandigarh Bench, through its order dated October 17, 2025, directed Cigniti to hold this meeting under Sections 230-232 of the Companies Act, 2013. Cigniti is the Transferor Company and Coforge is the Transferee Company. If approved, the merger will combine their digital assurance and AI-led engineering services businesses, creating three new scaled verticals including Retail, Technology, and Healthcare. Joint valuation was done by KPMG Valuation Services LLP and PwC Business Consulting Services LLP, while Axis Capital and JM Financial provided fairness opinions. Shareholders can vote via remote e-voting from December 3-5, 2025, or during the meeting. The cut-off date for eligibility is November 29, 2025. The scheme still needs NCLT's final approval after the shareholder vote.
This is a significant corporate action. If shareholders approve the scheme, Cigniti will merge into Coforge and Cigniti shareholders will receive Coforge shares in exchange based on the swap ratio. The Coforge group is already a promoter of Cigniti, so this is effectively a reverse merger consolidation. Stock price action typically depends on the swap ratio's attractiveness. Until NCLT's final sanction, the deal remains conditional and shares could see volatility around the December 6 vote.