Coforge Limited has officially completed its acquisition of Encora US Holdco, Inc. and Encora Holdings Limited. To support this growth, the company has secured a USD 550 million loan facility and allotted 9,37,96,508 equity shares to the investors, Encora Holdco Limited and AI Altius Parent (Cayman) Limited, at an issue price of INR 1,815.91 per share. Additionally, the company has expanded its board with two new non-executive directors.
Acquisition and Funding Strategy
As part of its strategic growth initiatives, Coforge has finalized the acquisition of the Encora entities. To finance this major expansion, the board has approved the infusion of USD 550 million, divided into USD 280 million for Encora US Holdco, Inc. and USD 270 million for Encora Holdings Limited. The company has also entered into a USD 550 million secured loan facility with a consortium of international banks, including JPMorgan Chase, Bank of America, and others, spanning a 3-year tenor.
Equity Allotment Details
Following the share swap arrangement approved by shareholders, Coforge has allotted 9,37,96,508 fully paid-up equity shares on a preferential basis. The shares were issued at a price of INR 1,815.91, which includes a face value of INR 2 and a premium of INR 1,813.91. This move shifts the company’s total issued and paid-up capital from 33,58,50,618 shares to 42,96,47,126 shares.
Strengthening the Board
To provide strategic oversight during this period of integration, Coforge has appointed Shweta Jalan and Atin Hirachand Jain as Additional Directors (Non-Executive). Both appointees bring significant expertise from their tenures at Advent Private Equity. These appointments were effective April 23, 2026, and are subject to final approval by the shareholders in the upcoming annual meeting.
Source: BSE
