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Tech Mahindra Ltd Completes Process Of Allocating Shares To Shareholders Of Satyam Computer Services Limited

Friday, 12 Jul 2013 04:32am EDT 

Tech Mahindra Ltd announced that it has completed the process of allocating shares of Tech Mahindra to the shareholders of erstwhile Satyam Computer Services Limited. This also means that the issued capital of the Company has gone up from earlier 129 million shares to 232 million shares. Subsequent to the scheme of amalgamation between Mahindra Satyam and Tech Mahindra becoming effective, the Board of Directors fixed July 5, 2013 as the Record Date for Mahindra Satyam shareholders. The shares swap has since been completed and the Stock Exchanges have accorded their approval for trading the new shares effective July 12, 2013. Earlier, the Scheme of Amalgamation and Arrangement was approved by the Hon’ble High Courts of Andhra Pradesh and Mumbai. The Company then had launched Tech Mahindra as the brand identity of the merged entity.