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.
Anand is an equity partner at JSA’s Mumbai office. His practice includes private and public M&A, private equity, venture capital and capital market transactions, with a particular focus on securities law matters.
Ela is a partner with JSA’s competition law practice with 10 years of experience. She represents and advises clients across different sectors on enforcement and merger control matters before the Competition Commission of India (CCI), National Company Law Appellate Tribunal (NCLAT), Delhi and Bombay High Court, and the Supreme Court of India (SC).
Shareen specializes in indirect tax laws including Goods and Services Tax, Customs Law and Foreign Trade Policy and erstwhile indirect tax laws such as Value Added Tax Laws, Service Tax, Excise duty. Shareen has 19 years of experience in providing advisory and litigation support services to large corporates as well as start-ups.
Sonakshi is part of the firm’s Labour & Employment Practice, and she focuses on employment, labour and industrial laws and related issues, including privacy, data protection and compliance investigations as they relate to the workplace.
Sucheta is a part of the finance practice. She specialises in the area of banking and finance, structured finance, corporate finance and debt capital markets.
Utsav is a banking partner in the Mumbai office of the firm. His practice focus on structured finance, acquisition finance, leveraged buyouts, cross border finance, real estate financing, debt restructuring and debt capital markets.
Vaibhav is a Partner with Firm’s Competition Law Practice with over 15 years’ experience.