Cigniti Technologies Ltd
š NCLT Approves Cigniti-Coforge Merger: Key Details
ā¢ NCLT Chandigarh Bench approved the amalgamation of Cigniti Technologies Limited into Coforge Limited, effective April 1, 2025.
ā¢ Share exchange ratio set at 1:1: 1 equity share of Coforge (face value INR 2) for every 1 equity share of Cigniti (face value INR 10).
ā¢ Coforge held a 54% stake in Cigniti as of December 27, 2024, having acquired 72,35,865 shares for approximately INR 10,239 million.
ā¢ Authorized Share Capital: Cigniti INR 36 crore, Coforge INR 77 crore; Paid-up Capital: Cigniti INR 27.55 crore, Coforge INR 66.98 crore.
ā¢ The Income Tax Department raised objections due to outstanding demands: INR 28.64 crore against Cigniti and INR 304.77 crore against Coforge; Coforge will assume all tax liabilities.
ā¢ All assets, liabilities, contracts, and legal proceedings of Cigniti will transfer to Coforge; employees will be retained on existing terms.