Coforge Limited has finalized the acquisition of Encora US Holdco, Inc. and Encora Holdings Limited. To facilitate this expansion, the board has approved a loan facility of up to USD 550 million and completed a preferential allotment of 9,37,96,508 equity shares to the investors. Additionally, the company has strengthened its leadership by appointing two new non-executive directors to the board, marking a significant milestone in its growth strategy.
Acquisition and Strategic Funding
Coforge has successfully completed the acquisition of Encora US Holdco, Inc. and Encora Holdings Limited, as per the Share Subscription and Purchase Agreement. To support the primary investment into these target companies, the board has authorized a secured loan facility of USD 550 million. This financing, arranged with a consortium of banks, is intended to provide the necessary liquidity to drive future operational growth and support the integration of the acquired entities.
Preferential Equity Allotment
As part of the transaction structure, the company has allotted 9,37,96,508 fully paid-up equity shares on a preferential basis. These shares were issued at INR 1,815.91 per share, which includes a premium of INR 1,813.91. The shares were allotted to Encora Holdco Limited and AI Altius Parent (Cayman) Limited, resulting in a significant increase in the company’s issued and subscribed capital to 42,96,47,126 shares.
Leadership Strengthening
In addition to these financial developments, the board has appointed Shweta Jalan and Atin Hirachand Jain as Additional Directors (Non-Executive Directors), effective April 23, 2026. Both directors bring extensive experience in private equity and technology investments to the board. Their appointment is subject to the approval of the shareholders and aims to provide strategic oversight as the company enters its next phase of global expansion.
Operational Security
To secure the newly sanctioned USD 550 million debt facility, the company has received approval to create a charge on its properties and assets. This move ensures the company maintains financial flexibility while meeting its debt obligations. The loan is structured for a 3-year tenor, with repayment scheduled to commence six months after the initial draw-down of funds.
Source: BSE
