26 Jun 2024

Coforge rises on getting CCI’s nod to acquire certain equity shares of Cigniti Technologies

Coforge is currently trading at Rs. 5368.30, up by 18.75 points or 0.35% from its previous closing of Rs. 5349.55 on the BSE.

The scrip opened at Rs. 5395.00 and has touched a high and low of Rs. 5459.00 and Rs. 5360.05 respectively. So far 5681 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 6840.00 on 19-Feb-2024 and a 52 week low of Rs. 4291.05 on 09-May-2024.

Last one week high and low of the scrip stood at Rs. 5520.00 and Rs. 5310.25 respectively. The current market cap of the company is Rs. 35840.84 crore.

The Institutions holding in the company stood at 89.30%, while Non-Institutions held 10.70% in the company. 

Coforge has received approval from The Competition Commission of India (CCI) for acquisition of certain equity shares of Cigniti Technologies (Cigniti). The proposed transaction relates to the acquisition of at least 50.21% and up to 54% shareholding on a fully diluted basis of Cigniti by Coforge pursuant to the execution of share purchase agreements and mandatory open offer in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (Proposed Combination). 

Coforge (Formerly known as NIIT Technologies) is a leading global IT solutions organization, enabling its clients to transform at intersect of unparalleled domain expertise and emerging technologies to achieve real-world business impact.