Coforge has secured a crucial regulatory milestone in its ongoing acquisition of Encora. The company announced it has received approval from the Reserve Bank of India (RBI) for Overseas Direct Investment exceeding USD One Billion under the Foreign Exchange Management Rules. This follows previous approvals, including HSR clearance in the US and shareholder consent, bringing the Transaction closer to finalization. Other pending regulatory processes are reportedly in advanced stages.
Key Regulatory Milestone Achieved for Encora Deal
Coforge has provided an important update regarding the ongoing acquisition of Encora US Holdco, Inc. and Encora Holdings Ltd. (collectively, the “Target Companies”). The Company is pleased to confirm that on March 30, 2026, it received necessary approval from the Reserve Bank of India (RBI).
This vital approval pertains to Overseas Direct Investment valued at exceeding USD One Billion under the Foreign Exchange Management (Overseas Investment) Rules. This regulatory clearance is a significant step forward in completing the Transaction announced on December 26, 2025.
Previously Secured Approvals
The Company had previously informed the exchanges about securing several critical regulatory clearances prior to the RBI announcement. These included:
- Hart-Scott-Rodino (HSR) Antitrust Improvement Act approval in the United States.
- Shareholders approval via postal ballot covering matters such as Preferential Allotment, Debt Funding, and special rights concerning the Share Purchase Agreement to Advent.
- Competition related approvals in other jurisdictions, including Australia.
Current Status and Next Steps
Coforge confirms that a few other required regulatory approvals across various jurisdictions are currently in their advanced stages of processing. The management is actively monitoring these processes and commits to promptly updating the stock exchanges as soon as final approvals are granted. This disclosure serves to keep members informed of the ongoing regulatory developments concerning the Encora acquisition.
Source: BSE
