Coforge Limited has received a crucial regulatory approval from the Reserve Bank of India for its ongoing Encora acquisition, bringing the company closer to completing the significant overseas investment transaction.

RBI Approval for Overseas Investment

The company announced on March 30, 2026, that it has secured approval from the Reserve Bank of India for Overseas Direct Investment exceeding USD One Billion under Foreign Exchange Management (Overseas Investment) Rules. This approval represents a major regulatory milestone for the acquisition process.

Transaction Background

The acquisition stems from a share subscription and share purchase agreement executed on December 26, 2025. The transaction involves multiple entities across different jurisdictions, reflecting the complex international nature of the deal.

Previously Obtained Approvals

Coforge has systematically secured multiple regulatory clearances across various jurisdictions. The company received Hart-Scott-Rodino Antitrust Improvement Act approval in the United States on January 28, 2026. Additionally, shareholders provided their approval via postal ballot on February 28, 2026, covering several critical aspects of the transaction.

The shareholder approval encompassed:

• Preferential Allotment matters
• Debt Funding arrangements
• Special rights under the Share Purchase Agreement to Advent
• Competition-related approvals in other jurisdictions including Australia

Pending Regulatory Clearances

While significant progress has been made, several other regulatory approvals required across various jurisdictions remain pending. The company has indicated these approvals are currently in advanced stages of processing, suggesting the completion timeline is progressing as expected.

Coforge management is actively monitoring these regulatory processes and has committed to promptly updating stock exchanges as soon as additional approvals are granted. This systematic approach to regulatory compliance demonstrates the company's commitment to transparency and proper governance throughout the acquisition process.

Compliance and Disclosure

The announcement was made under Regulation 30 of the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulation, 2015. Company Secretary and Compliance Officer Barkha Sharma signed the disclosure, ensuring proper regulatory compliance and stakeholder communication throughout the transaction process.

Coforge Limited has announced the appointment of Mr. Vivek Sharma as an Additional Director and Non-Executive Independent Director on its Board of Directors. The appointment was approved by the Board on March 27, 2026, following the recommendation of the Nomination and Remuneration Committee, and will be effective from April 1, 2026.

Appointment Details

The key details of Mr. Sharma's appointment are outlined below:

The company has confirmed that Mr. Sharma is not debarred from holding the office of Director by virtue of any order passed by SEBI or any other authority. Additionally, he is not related to any of the existing Directors of the Company.

Professional Background and Expertise

Vivek Sharma brings extensive experience in AI, data science, and digital transformation to Coforge's Board. He currently serves on the boards of Kaiser Permanente and JetBlue Airways. His academic involvement includes serving as an adjunct professor of data science at the University of Southern California and being a member of Caltech's Innovation Science & Technology advisory council.

As an accomplished author, Mr. Sharma has written two books—C-SPARK and WIREFRAMED—and contributed multiple articles to Harvard Business Review and the National Association of Corporate Directors. His notable publications include "It's Time for Boards to Take AI Seriously," "Which Skills Will Survive the AI Onslaught?," "6 Ways AI Could Disrupt Your Business," and "Shift Your Focus to Strategic AI Risks."

Leadership Experience

Mr. Sharma's executive experience spans several prominent organizations:

InStride (CEO and Co-founder)

• Founded the Los Angeles-based EdTech company in 2018
• Scaled it into a 200-person profitable company over four years
• Partnered with 41 major corporations
• Saved employees $630.00 million in potential student debt
• Earned a spot on Fortune's "Global Impact 20" list

The Walt Disney Company

• Served as Senior Vice President of Digital Guest Experience & E-commerce for six years
• Oversaw a $10.00 billion online business
• Served 150 million guests annually across Disney's global operations including theme parks, resorts, cruises, restaurants, and retail

Yahoo

• Held leadership roles for four years
• Served as General Manager of Yahoo Mail & Messenger
• Served as Vice President of Yahoo Search

McKinsey & Company

• Worked as an Associate Partner for eight years

Educational Background

Mr. Sharma graduated from the Indian Institute of Technology, New Delhi, and holds an MBA from INSEAD, France. His educational background complements his extensive professional experience in technology and business leadership.

Industry Involvement

Beyond his corporate roles, Vivek Sharma maintains active involvement in various industry organizations. He is an AI advisor to Private Equity firms and various AI-startup founders. He is also an active member of the WSJ Board of Directors Council, World50 Board Excellence group, and the Los Angeles World Affairs Council.

The appointment of Mr. Sharma as Independent Director is expected to strengthen Coforge's board governance and bring valuable expertise in emerging technologies and digital transformation strategies.