The company will also, via its wholly-owned step-down subsidiary Coforge Technologies Australia Pty Ltd, enter into a share sale agreement with TMLabs Pty Ltd and its shareholders to acquire all the outstanding shares of the former.
The same is subject to completion of closing conditions and closing deliverables as per the stock purchase agreement, the company said in an exchange filing.
Brokerage firm Jefferies has a “buy” rating on Coforge and has raised its target price to ₹10,350 per share.
The brokerage said the company’s largest-ever deal signing of $1.6 billion not only provides greater revenue growth visibility in FY26, but will also improve its positioning in the travel vertical and open doors to more such large deal wins in the future.
This also reflects Coforge’s ability to gain share irrespective of demand environment, it said. The brokerage raised the company’s FY26-FY27 estimates by 3%-5%.
Of the 38 analysts that have coverage on the stock, 24 have a “buy” rating, four have a “hold” rating and 10 have a “sell” rating.
On another note, the technology services provider also announced that its board approved the proposal for a stock split.
Coforge will divide one equity share that currently carries a face value of ₹10 into five equity shares, which will now have a face value of ₹2 each. This is the first stock split announced by the company.
The stock split is subject to approval from the company’s shareholders and the record date for this will be intimated in due course, Coforge said in its exchange filing.
This entire exercise of stock split and the reflection in to the demat account of shareholders is likely to be completed over the next three months.
Post the stock split, Coforge will have 33.43 crore outstanding shares, compared to the pre-split figure of 6.68 crore.
Coforge shares ended the previous trade session 1.93% lower at ₹7,215.2 apiece. The stock has declined 25.06% this year, so far.
