Coforge has announced the approval of a USD 550 million loan facility to support its acquisition of Encora US Holdco, Inc. and Encora Holdings Limited. This decision was made during a board meeting held on April 23, 2026. The loan, which will be secured against certain company assets, is intended to provide the necessary financial flexibility for future growth and operational needs.
The company has entered into a second amendment agreement to the Share Subscription and Purchase Agreement (SSPA) with the target companies and investors. This agreement clarifies the timing and manner of funding for Encora US Holdco, Inc. and Encora Holdings Limited by Coforge or its group companies.
In addition to the loan facility, Coforge’s board approved the creation of hypothecate, mortgage, pledge, or charge on all or any properties of the company. This move is to secure the loan facility and ensure the due payment of principal, interest, and other monies payable by the company.
Furthermore, Coforge has allotted 9,37,96,508 equity shares on a preferential basis as part of a share swap arrangement. The shares, valued at ₹1,815.91 each, were issued to Encora Holdco Limited and AI Altius Parent (Cayman) Limited for a total consideration of ₹1,70,32,60,16,842. This issuance was approved by shareholders through a special resolution on January 25, 2026.
The company has also completed the acquisition of Encora US Holdco, Inc. and Encora Holdings Limited, as per the SSPA. The board has approved the subscription to shares of these companies, with a total subscription amount of USD 550 million.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).