COGNIZANT EXPLORES PRIMARY OFFERING AND SECONDARY LISTING IN INDIA

Move could enhance visibility and liquidity among Indian investors

US-based IT major Cognizant is evaluating the possibility of a primary offering and a secondary listing in India, according to Chief Financial Officer Jatin Dalal. The company, which employs a significant workforce in India, said the review is in its early stages and involves consultations with legal and financial advisors in both countries.

Dalal noted that while the process is complex and long-term in nature, such a move could boost shareholder value and strengthen the company’s market presence in India. A secondary listing would allow NASDAQ-listed Cognizant shares to be traded on Indian exchanges, improving access for local investors and market liquidity.

For the quarter ended September 2025, the Teaneck, New Jersey-headquartered firm reported a 53% drop in net income to USD 274 million, impacted by a one-time tax expense of USD 390 million. Revenues, however, grew 7.3% year-over-year to USD 5.42 billion, driven by gains in AI-led investments. Cognizant also added 6,000 employees, primarily freshers, taking its total headcount to 3,49,800.