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CCI nod to acquisition of equity shares of Cigniti by Coforge Ltd

Published: Jun 26, 2024

By TIOLCorplaws News Service

NEW DELHI, JUNE 26, 2024: THE Competition Commission of India (CCI) has approved acquisition of certain equity shares of Cigniti Technologies Limited (Cigniti) by Coforge Limited (Coforge).

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 is a public company, and its equity shares are listed on the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE). Coforge including its affiliates, is engaged in the provision of information technology (IT) and IT enabled services (ITES) and its sub-segments, in India.

Cigniti is a public company and its equity shares are listed on NSE and BSE. Cigniti including its affiliates, is engaged in the provision of IT and ITES and its sub-segments, in India.

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