Coforge Limited — Important, 20-11-2024: General Updates

Coforge Limited has successfully completed an acquisition of Cigniti Technologies Limited, increasing its stake to 32.68% of the paid-up capital. The Open Offer concluded with 12,81,239 equity shares tendered, out of which the company has received 12,80,374 shares in its demat account. Cigniti reported a turnover of INR 814.47 crore and a profit after tax of INR 94.79 crore for FY 2023-24. This acquisition aligns with Coforge's strategy to strengthen its position in the Information Technology services sector. The transaction, executed at an arm's length, indicates solid growth prospects for Coforge, suggesting a positive outlook for shareholders as the company continues to expand its capabilities through strategic investments.