Coforge has announced a significant financial move by securing a loan facility of up to USD 550 million. This decision was made during the company’s board meeting held on April 23, 2026, as part of its strategic funding structure. The loan, which will be secured by a charge over certain assets of the company, is aimed at supporting the company’s future growth and operational needs.
The board also approved a second amendment agreement to the Share Subscription and Purchase Agreement (SSPA) involving the company, the target companies, and investors. This amendment clarifies the timing and manner of funding for Encora US Holdco, Inc. and Encora Holdings Limited.
In addition to the loan facility, the board sanctioned the creation of hypothecate, mortgage, pledge, or charge on all or any properties of the company. This move is intended to ensure financial flexibility and support the company’s borrowing capacity, subject to shareholder approval under Section 180(1)(a) of the Companies Act, 2013.
Furthermore, Coforge completed the allotment of 9,37,96,508 equity shares on a preferential basis to Encora Holdco Limited and AI Altius Parent (Cayman) Limited. The shares, issued at a price of ₹1,815.91 each, amount to a total consideration of ₹1,70,32,60,16,842. This allotment follows a special resolution passed by the shareholders on January 25, 2026.
The company has also finalised the acquisition of Encora US Holdco, Inc. and Encora Holdings Limited, as per the SSPA executed on December 26, 2025. The acquisition aligns with the company’s strategic expansion plans, with a total subscription amount of USD 550 million for the target companies.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).