“…the meeting of the Board of Directors of the company is scheduled to be held on Tuesday, March 04, 2025, inter-alia to consider the proposal of alteration in the share capital of the company by sub-division/ split of the existing Equity Shares of the face value ₹10/- each, fully paid-up, in such a manner as may be determined by the Board of Directors subject to approval of the shareholders of the company and any approvals, as may be required under applicable law,” Coforge said in a regulatory filing.
The final structure of the split will be determined by the Board, subject to shareholder and regulatory approvals. In line with regulatory compliance, the company has closed its trading window for designated persons and their immediate relatives with immediate effect.
A stock split is generally aimed at making shares more affordable and increasing liquidity in the market.Also Read: Coforge shares recover from lows post commentary; analysts raise target by up to 25%
For the third quarter, revenue in constant currency terms grew by 8.4% on a sequential basis for Coforge, while a CNBC-TV18 poll had projected that figure to be at 4.6%.
In US Dollar terms, Coforge’s topline grew by 7.5% on a quarter-on-quarter basis to $397 million, while in rupee terms, revenue growth stood at 8.4% from the previous quarter to ₹3,318.2 crore.
Earnings Before Interest and Tax stood at ₹316.2 crore from ₹287.6 crore last quarter, while the EBIT margin, as per the company’s P&L account, stood at 9.5% from 9.4% in the previous quarter.
Shares of Coforge Ltd ended at ₹7,587.75, down by ₹47.45, or 0.62% on the BSE.
Also Read: Cigniti shares fall 7% after Coforge announces amalgamation, share swap ratio
