Under this, 9,37,96,508 new equity shares will be issued to existing Encora investors at a price of Rs 1,815.91 per share in exchange for their stake in the target companies. The board has given special rights including preferential issue of these shares to non-promoter investors, board and committee nomination to incoming investors and also a ban on transfer. It also approved adoption of amended and restated articles of association to reflect the new rights structure and increase in the authorized share capital from Rs 77 crore to Rs 102 crore to facilitate the increased equity base, according to exchange filings. All this indicates a major expansion and change in Coforge’s capital structure and governance framework.
Coforge acquired for Rs 21,133 crore! US company to buy Encore under all-stock deal – FULL Details – Markets
