Coforge Approves ₹17,032 Crore Share Allotment & ₹4,583 Crore Loan Facility for Encora Acquisition
Coforge Limited approved a ₹17,032 crore preferential allotment of equity shares and a ₹5,157 crore loan facility for the acquisition of Encora entities. The company also completed the acquisition and appointed Shweta Jalan and Atin Hirachand Jain as Additional Directors.
The substantial financial transactions (equity and debt fundraising) and the completion of a significant acquisition are expected to have a material impact on the company's financial structure, growth prospects, and market position.
The announcement details significant corporate actions including a large preferential share allotment and debt facility to fund an acquisition, along with the appointment of experienced directors, all of which are positive developments for the company's growth and strategic initiatives.
Coforge Limited's Board of Directors, in a meeting held on April 23, 2026, approved several key financial and corporate actions related to the acquisition of Encora US Holdco, Inc. and Encora Holdings Limited. The company entered into a second amendment agreement to the Share Subscription and Purchase Agreement (SSPA) to clarify the timing and manner of funding for the target companies.
Additionally, the Board approved availing a loan facility of up to USD 550 million (approximately ₹5,157 crore) from various banks and financial institutions, to be secured by company assets. This facility is intended to support the funding structure for the Encora transaction.
In a significant move, the company approved the allotment of 9,37,96,508 equity shares at an issue price of ₹1,815.91 per share, aggregating to ₹1,70,32,60,16,842 (approximately ₹17,032 crore), to Encora Holdco Limited and AI Altius Parent (Cayman) Limited as consideration for the acquisition. This preferential allotment was previously approved by shareholders via a special resolution on January 25, 2026.
The company also announced the completion of the acquisition of Encora US Holdco, Inc. and Encora Holdings Limited, as per the SSPA executed on December 26, 2025. The subscription to the shares of these target companies involves a total investment of USD 550 million (approximately ₹5,157 crore), with USD 280 million for Encora US Holdco, Inc. and USD 270 million for Encora Holdings Limited.
Furthermore, the Board approved the appointment of Shweta Jalan and Atin Hirachand Jain as Additional Directors (Non-Executive Directors) effective April 23, 2026, subject to shareholder approval. Both directors are associated with Advent Private Equity and bring extensive experience in private equity and investments.
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Coforge Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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