Coforge has acquired 7,639,492 equity shares aggregating to 27.98% of paid up share capital of Cigniti Technologies.
Consequently, the existing five out of six directors of Cigniti have resigned and Coforge has appointed Executive Director, Non-Executive Director and Independent Director on the board.
In May 2024, Coforge had entered into share purchase agreements with the promoters and select public shareholders of Cigniti Technologies and triggered an open offer pursuant to execution of such share purchase agreements .
Coforge has offered a price of Rs 1415 per share and agreed to acquire 1,38,30,091 Equity Shares constituting 50.7% of Cigniti’s paid up share capital.