IT firm Coforge on Tuesday said it has filed papers with the US Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of American Depositary Shares representing its equity shares.

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Coforge, which was formerly NIIT Technologies, is promoted by Barings Private Equity (PE) Asia and is listed on Indian bourses.

Coforge has filed a Registration Statement on Form F-1 with the US SEC in connection with a proposed IPO of ADS representing its equity shares, Coforge said in a regulatory filing.

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The number of equity shares to be represented by each ADS, the number of ADS to be offered and the price range for the proposed offering have not yet been determined, it added.

As of September 30, 2021, Baring Private Equity Asia, through Hulst BV's shareholding in Coforge, held approximately 50.2 per cent of the total outstanding equity shares, representing a majority of the voting rights of its equity shares.

"Hulst BV will be one of our selling shareholders," it said.

The selling shareholders of the ADS will be identified through an invitation to participate in the offering. Coforge will be dispatching the relevant documents for participation in the IPO including the invitation to participate and the letter of transmittal to its existing equity shareholders as on an identified date, being November 12, 2021 (Identified Date), the filing said.

All equity shareholders holding equity shares of Coforge after the Identified Date and up to on or prior to December 2, 2021 (Offer Closing Date) are eligible to offer their equity shares for sale in the IPO, it added.

The offering is being made through an underwriting group led by Citigroup Global Markets Inc and JP Morgan Securities LLC, who are acting as global coordinators and lead bookrunners.