Coforge has successfully completed its open offer for an additional 4.69% stake in Cigniti Technologies, increasing its total shareholding to 32.68%. The acquisition, which was finalized on November 20, was executed at a price of Rs 1,415 per share, enhancing Coforge"s position in the IT services sector.
The move is expected to boost Coforge"s North America revenue by approximately 33%, reflecting the company"s strategic focus on expanding its market presence. A total of 12,81,239 equity shares were tendered by public shareholders, with the majority already credited to Coforge"s demat account. The company has confirmed that the consideration for the shares has been fully paid.