Coforge’s Board of Directors has approved a series of significant financial decisions, including a USD 550 million loan facility and the allotment of equity shares on a preferential basis. These actions are part of the company’s strategic initiatives to support its growth and operational needs.
The board has entered into a second amendment agreement to the Share Subscription and Purchase Agreement (SSPA) with the Target Companies and Investors. This agreement aims to clarify the timing and manner of funding Encora US Holdco, Inc. and Encora Holdings Limited by Coforge or its group companies.
In line with the agreed funding structure, Coforge will avail a loan facility of up to USD 550 million. This facility will be secured by a charge over certain assets of the company, as detailed in the Facilities Agreement executed on April 23, 2026.
Additionally, the board has approved the creation of hypothecation, mortgage, pledge, and/or charge on the company’s properties to secure the loan facility. This move ensures financial flexibility for future growth, subject to shareholder approval under Section 180(1)(a) of the Companies Act, 2013.
Coforge has also finalised the allotment of 9,37,96,508 equity shares at a price of ₹1,815.91 per share to Encora Holdco Limited and AI Altius Parent (Cayman) Limited. This allotment, approved by shareholders via a special resolution on January 25, 2026, is part of a share swap arrangement for an aggregate consideration of ₹1,70,32,60,16,842.
Following this allotment, the issued, subscribed, and paid-up capital of Coforge has increased, with the new equity shares ranking pari passu with existing shares.
Furthermore, Coforge has completed the acquisition of Encora US Holdco, Inc. and Encora Holdings Limited, as per the SSPA executed on December 26, 2025. The board has approved the subscription to shares of these companies, amounting to USD 550 million, in compliance with relevant laws and regulations.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).