COFORGE files for US IPO through ADR route; Barings PE Asia to sell part stake

Coforge, the world’s leading IT solutions company, has filed a document with the American Depositary Receipts (ADR) for an initial public offering (IPO). Barings Private Equity Asia will sell a portion of its shares in the proposed transaction.

Coforge (formerly NIIT Technologies) is listed on the domestic stock exchange, sponsored by Barings Private Equity (PE) Asia.

The move is a recent comment from management that Coforge’s investment in segments such as product development, cloud, data, automation and integration will help Coforge grow into a $ 1 billion company by next year.