The effective date for the merger is April 1, 2025.
Consequently, Cigniti is now merged into Coforge and has been dissolved without undergoing any winding-up procedure.
As a result, the scheduled board meeting of Cigniti on May 5, 2026, to review its financial results has been called off, with its performance now incorporated into Coforge’s standalone results.
The board of Coforge will also determine the record date for share allotment according to the agreed swap ratio.
This merger represents the culmination of Coforge’s acquisition of Cigniti, following shareholder approval and final regulatory clearance. The transaction is anticipated to enhance Coforge’s presence in the healthcare sector and broaden its reach in the Midwest and Western US markets.
According to the deal’s terms, Cigniti shareholders will acquire one equity share of Coforge (face value ₹2) for each share held (face value ₹10), reflecting a revised 1:1 swap ratio after Coforge’s stock split in June 2025. This remains unchanged economically from the previous 1:5 ratio.
Coforge initially announced the acquisition in May 2024, obtaining a 54% stake for approximately ₹2,000 crore.
The goal of this transaction is to scale the company to a $2-billion firm by FY27, supported by access to 28 additional Fortune 500 clients and opportunities for cross-selling services, especially in specialized assurance.
The combined entity is projected to be a $2.5-billion company, with a strong foundation in AI-driven engineering, data, and cloud services, as stated by the company.
Coforge shares closed 3.51% lower at ₹1,153.90, while Cigniti Technologies fell 2.74% to ₹1,149.80.
