JSA represented Coforge Limited (“Coforge“) in its proposed acquisition of a majority stake of Cigniti Technologies Limited (“Cigniti“) for approximately USD 256 million. The transaction included Coforge making an open offer to the public shareholders of Cigniti in terms of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Coforge is listed on BSE and NSE and is a global enterprise information technology solutions and services company offering its clients comprehensive capabilities in product engineering services, intelligent automation services, data and integration services, cloud and infrastructure management services, software engineering services and business process management services.
Cigniti is listed on BSE and NSE and is engaged in the business of providing digital assurance and digital engineering services.
The deal also involved (a) the subsidiary of Coforge availing a committed line of financing on May 2, 2024, for an amount not exceeding USD 250 million by the Hongkong and Shanghai Banking Corporation, GIFT city branch; and (b) Coforge undertaking a fund raising exercise by way of a QIP to fund the acquisition.
Our Transaction Team Comprised Lead Partner – Anand Lakra, Principal Associate – Ami Shah, Senior Associate – Jinay Shah, Associates – Shreya Shinde, Diya Dave, Parth Mehta and, B M Biplab.
Our Banking and Finance Team Comprised Partner – Utsav Johri and Sucheta Bhattacharya and Associate – Suprabh Garg.
Our Data Protection Team Comprised Senior Associate – Saurabh Sinha, and Associate – Himanshu Kumar.
Our Employment Team Comprised Partner – Sonakshi Das.
Our Competition Team Comprised Partner – Vaibhav Choukse and Ela Bali, Principal Associate – Nripi Jolly and Senior Associate – Aditi Khanna and Associate – Faiz Siddiqui.
Our Indirect Tax Team Comprised Partner – Shareen Gupta, Principal Consultant – Ruchita Modi, and Associate – Tanay Vyas.
Aditi is a competition / antitrust lawyer, who recently completed her post-graduation.