Coforge Limited has achieved a crucial milestone in its acquisition strategy by securing in-principle approval from both BSE and NSE for a preferential issue of equity shares. The approval paves the way for the completion of the company's acquisition of Encora, a transaction that was initially announced in December 2025.

Transaction Details

The stock exchange approval covers the issuance and allotment of equity shares under specific terms agreed upon in the original acquisition agreement.

Acquisition Timeline

The Encora acquisition has progressed through several key phases since its initial announcement. Coforge had executed a share subscription and share purchase agreement with the target companies on December 26, 2025. The transaction was structured subject to various regulatory approvals, which have now been successfully obtained.

With the exchange approval secured, Coforge has committed to completing all closing formalities within the next 15 days. This timeline indicates the company's readiness to finalize the acquisition process and integrate Encora into its operations.

Regulatory Compliance

The approval represents the successful completion of the regulatory review process for the Encora acquisition. The transaction falls under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, requiring proper disclosure to stock exchanges and stakeholders.

Coforge has maintained transparency throughout the process by providing timely updates to BSE and NSE, ensuring compliance with all listing obligations and regulatory requirements.

Next Steps

With regulatory hurdles cleared, Coforge is positioned to move forward with the final stages of the acquisition. The company has indicated its commitment to completing all necessary closing formalities within the specified 15-day timeframe, demonstrating its operational readiness to execute the transaction efficiently.

Coforge has announced the launch of AI Mod Squads, featuring outcome-based human-agent pods delivered through a subscription pricing model. This innovative approach represents a significant departure from traditional time-and-material pricing structures, combining pre-built AI agents with specialized AI engineers to deliver outcome-driven solutions with enhanced cost predictability and faster implementation timelines.

Comprehensive AI Agent Portfolio

The AI Mod Squads feature an extensive suite of over 130 pre-built AI agents organized into two distinct categories. Industry-specific agents are designed to handle specialized tasks such as fraud detection for banking institutions, claims triaging for insurance companies, and weather alert management for airlines. Engineering-focused agents concentrate on technical execution including legacy code reverse engineering, automated quality assurance, and incident ticket resolution.

Human-Agent Pod Structure and Infrastructure

The outcome-based human-agent pods operate through a structured expert-in-the-loop model that ensures human oversight at critical decision points. Senior AI specialists from Coforge actively direct, validate, and course-correct the agents throughout the delivery process, maintaining the balance between AI autonomy and human accountability for both high-stakes regulated workflows and high-velocity engineering delivery.

Customers can deploy the AI agents through two infrastructure options. The first involves customer-hosted AI infrastructure, providing organizations with direct control over their deployment environment. Alternatively, Coforge offers its proprietary Forge-X agentic infrastructure, which includes built-in security controls, traceability features, agent-to-agent collaboration capabilities, and comprehensive data connectors.

Subscription Pricing Structure

The new model introduces fixed monthly subscription fees per AI Mod Squad, covering access to foundational elements, required agents, and senior AI engineers. Pricing determination factors include the number, complexity, and autonomy level of deployed agents, ranging from basic code-writing bots to sophisticated agents capable of orchestrating multiple tasks.

Demonstrated Business Impact

Early implementations of AI Mod Squads have generated measurable business outcomes across different industry sectors. A banking loan origination human-agent squad achieved a 70.00% reduction in cycle time, while an insurance underwriting human-agent squad delivered a 50.00% faster underwriting cycle. These results demonstrate the model's capability to deliver significant operational improvements alongside faster time-to-market and enhanced standardization.

Leadership Perspective and Market Positioning

According to Sudhir Singh, CEO of Coforge, the AI Mod Squads provide clients with unprecedented freedom to compose their own AI-powered delivery teams, supported by domain intelligence developed over three decades. Sunil Fernandes, Chief Operating Officer, emphasized that the transition from effort-based pricing to outcome-focused subscription models enables cost predictability while accelerating customers' transition to autonomous AI-driven enterprises.

The AI Mod Squads are immediately available for deployment, positioning Coforge as an AI-native engineering services leader focused on delivering measurable business outcomes including lower operating costs, faster cycle times, higher conversion rates, and sustained margin growth.