Cigniti Technologies cancels Q4 results after Coforge merger
after close1 source ↓written by the desknot a recommendation
- gap narrowed
- ₹4 per share
Cigniti Technologies has cancelled its board meeting and will not declare Q4 results following the NCLT's approval of its merger with Coforge. Shareholders will receive one Coforge share for each Cigniti share held. The merger marks the end of Cigniti as an independent entity, with shares trading at ₹1,157, reflecting a market cap of ₹3,187.18 cr.
Both companies saw a decline in stock prices, but the gap narrowed to ₹4 per share, indicating market confidence in the swap.
Not investment advice. For informational purposes only.