Cigniti Technologies Limited has announced that the National Company Law Tribunal (NCLT) has reserved its order regarding the proposed scheme of amalgamation with Coforge Limited for formal pronouncement on March 27, 2026.

NCLT Proceedings Update

The development represents a significant milestone in the merger process between the two technology companies. The NCLT's decision to reserve the order indicates that the tribunal has completed its deliberations on the second motion petition and will formally announce its verdict at a later date.

Statutory Approval Status

A crucial development in the amalgamation process is that statutory authorities have recorded their no-objection to the sanctioning of the scheme. This regulatory clearance removes a key hurdle in the merger proceedings and demonstrates compliance with applicable legal requirements.

Amalgamation Structure

The proposed scheme involves the amalgamation of Cigniti Technologies Limited as the transferor company with and into Coforge Limited as the transferee company. The arrangement encompasses their respective shareholders and creditors under sections 230 to 232 and other applicable provisions of the Companies Act, 2013.

Regulatory Compliance and Disclosure

Cigniti Technologies has maintained consistent regulatory compliance throughout the merger process. The company's disclosure under Regulation 30 of the SEBI Listing Regulations references multiple previous communications with stock exchanges dating from December 27, 2024, through January 28, 2026.

Next Steps

Both companies have committed to notify stock exchanges and make information available on their respective websites upon receiving the copy of the NCLT order. This ensures stakeholders will receive timely updates on the final outcome of the amalgamation proceedings.

Coforge Limited has completed the allotment of equity shares under its Employee Stock Option Plan, marking another step in its employee incentive program. The technology services company informed stock exchanges about this corporate action on March 25, 2026.

ESOP Allotment Details

The ESOP Allotment Committee approved the allotment of shares under the company's Employee Stock Option Plan (2005). The allotment specifics are presented below:

Impact on Share Capital

Following this allotment, Coforge's share capital structure has been updated. The allotment has resulted in changes to the company's paid-up share capital:

Regulatory Compliance and Next Steps

Coforge is proceeding with the necessary regulatory formalities for the newly allotted shares. The company has indicated that it is in the process of completing other formalities related to the issue and listing of the shares. The management will file the required documents with stock exchanges shortly to seek listing and trading approvals for the allotted shares.

This allotment represents the company's ongoing commitment to its employee stock option program, which serves as an employee retention and incentive mechanism. The company has duly informed both BSE Limited and the National Stock Exchange of India Limited about this corporate action as per regulatory requirements.