On June 23, Coforge share prices fell in the early trade after it acquired the remaining stakes in Coforge Business Process Solutions.
Coforge had, on April 12, 2021, hinted about the planned acquisition of equity shares equivalent to 80% of the overall issued and paid-up share capital of Coforge Business Process Solutions.
Out of this, equity shares equivalent to 60% of the total issued and paid-up share capital of Coforge Business Process Solutions were bought in the first tranche.
On June 22, the business said that it had acquired the final tranche shares of the balance 20% equity shares in the subsidiary for Rs 3,369.40 million and thereby combining its shareholding to 80% of the total paid-up share capital of Coforge Business Process Solutions.
At 9:26 am, Coforge was trading Rs 4,499.50, down Rs 25.90, or 0.57%, on the BSE.
The share moved a 52-week high of Rs 4,678 and a 52-week low of Rs 3,210 on June 21, 2023, and September 19, 2022, respectively. It is trading 3.82% below its 52-week high and 40.17% above its 52-week low.