Coforge Ltd has received approval from the Reserve Bank of India for overseas direct investment exceeding $1 billion, marking a significant step forward in its proposed acquisition of Encora, the company said in a stock exchange filing.
The approval, granted under the Foreign Exchange Management (Overseas Investment) Rules, clears a key regulatory hurdle for the transaction involving Encora US Holdco Inc. and Encora Holdings Ltd.
Coforge noted that the development builds on its earlier announcement, when it had entered into a share subscription and share purchase agreement with the target entities, along with Encora Holdco Ltd and AI Altius Parent (Cayman) Ltd.
The company had previously secured multiple regulatory clearances, including approval under the Hart-Scott-Rodino Antitrust Improvement Act in the United States, shareholder approval via postal ballot for key aspects such as preferential allotment and debt funding, and competition-related clearances in jurisdictions including Australia.
With the RBI approval now in place, “the remaining approvals are in advanced stages,” Coforge said in its filing.
Published on March 31, 2026
