Coforge Limited, a leading IT solutions provider, announced on Saturday that the ESOP Allotment Committee has approved the allotment of 83,005 equity shares on December 29, 2023. The shares, with a face value of Rs. 10 each, were issued as part of the Employee Stock Option Plan (ESOP) of the Company, according to an official exchange filing.
The company revealed that it received Share Application Money totaling Rs 8,30,050 in connection with the said allotment.
As a result of this allotment, the paid-up share capital of Coforge Limited has increased to 61,752,442 equity shares, each with a face value of Rs 10, aggregating to Rs. 6,17,524,420. The allotment specifically pertains to Sudhir Singh, the CEO, and Executive Director of the company.
The company is currently in the process of completing other formalities related to the issue and listing of the newly allotted shares. Coforge assured that it will promptly file the necessary documents with the exchange to seek listing and trading approvals.
In the same filing, Coforge Limited also announced that it is collaborating with Microsoft to leverage Generative AI for the development of next-gen solutions tailored for enterprises.
Coforge Limited shares
As of Friday at 3:30 pm IST, Coforge Limited shares closed at Rs 6,284.85, marking a 0.20 per cent increase.
This strategic move of equity allotment underlines Coforge’s commitment to fostering a collaborative and growth-oriented work environment for its employees.
