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IT Services and Solutions Provider Coforge Files for $100 Million US IPO

Esther Thin

Coforge Ltd, an IT services and solutions provider, has filed Form F-1 Registration Statement on November 15, 2021 with the U.S. Securities and Exchange Commission to raise up to $100 million IPO. Pricing terms are yet to announce. Sources estimate the total proceeds raised would up to $1 billion.

The company is a differentiated IT services and solutions firm offering deep domain knowledge and specialization in select industry verticals. They provide comprehensive capabilities in product engineering services, data services, cloud and infrastructure management services, digital process automation services and digital integration services.

The New Delhi, India-based company was founded in 1992 and booked $745 million in revenue for the 12 months ended September 30, 2021. It plans to list on the NYSE but has not selected a symbol yet (RC ticker: CFRG.RC). Citi, J.P. Morgan, Barclays, BofA Securities, Evercore ISI, Credit Suisse, and Deutsche Bank are underwriters of the IPO.

The company engages Skadden, Arps, Slate, Meagher & Flom LLP as US Securities Counsel, and S. R. Batliboi & Associates LLP as Independent Auditor.

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