Coforge Ltd.

General Information

(Note: Coforge Ltd. withdrew its IPO plans in a letter to the SEC dated March 13, 2024. The company, based in New Delhi, India, filed to go public on Nov. 15, 2021, with estimated IPO proceeds of $100 million.)

(Note: Coforge Ltd. estimated its IPO proceeds at $100 million. But some IPO experts predict that this IPO could raise $1 billion. This is an IPO of American Depositary Shares (ADS).)

We are a differentiated IT services and solutions firm offering deep domain knowledge and specialization in select industry verticals. (Incorporated in the Republic of India) We provide comprehensive capabilities in product engineering services, data services, cloud and infrastructure management services, digital process automation services and digital integration services. 

We have a strong presence and expertise in the Insurance (“Insurance”), Banking and Financial Services (“BFS”) and Travel, Transportation and Hospitality (“TTH”) verticals and a growing presence and expertise in the Retail, Healthcare, Hi-tech Manufacturing and Government (Outside India) verticals, which we aggregate in our “All Others” vertical in our consolidated financial statements.

Our primary geographic markets are the Americas and Europe, the Middle East and Africa (“EMEA”), which generated 52% and 35% of our revenue, respectively, for the fiscal year ended March 31, 2022.

Our global delivery platform has a presence in 21 countries, with 25 delivery centers in nine countries supported by sales offices in 35 cities worldwide.

(Note: Coforge Ltd. filed an F-1/A dated July 20, 2022, but it did not disclose terms for its IPO. Coforge filed its F-1 on Nov. 15, 2021; the company filed confidentially on Sept. 3, 2021.)

Employees: 22500
Founded: 1992
Contact Information
Address 8, Balaji Estate, Third Floor Guru Ravi Das Marg, Kalkaji New Delhi – 110 019 India
Phone Number +91 11 41-29297
Web Address
View Prospectus: Coforge Ltd.
Financial Information
Market Cap
Revenues $848.0 mil (last 12 months)
Net Income $94.0 mil (last 12 months)
IPO Profile
Symbol COFO
Exchange NYSE
Shares (millions): 0.0
Price range $0.00 - $0.00
Est. $ Volume $100.0 mil
Manager / Joint Managers Citigroup/ J.P. Morgan/ ​ Barclays/ BofA Securities/ Evercore ISI/ Credit Suisse/ Deutsche Bank Securities
CO-Managers Baird/ Cowen/ Needham & Co./ William Blair
Expected To Trade:
Status: Withdrawn
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change