Tech mahindra
Tech mahindra

Satyam submits letter to SEBI regarding bidding process

Hyderabad, INDIA, March 24, 2009: Satyam Computer Services Ltd. (NYSE: SAY; BSE: SATYAM; NSE: SATYAMCOMP) (the "Company") announced today that it had submitted a letter (the “SEBI Letter”) to the Securities and Exchange Board of India (“SEBI”) relating to the process to be followed by the Company pursuant to Regulation 29A of the SEBI Takeover Regulations to select an investor and the in-principle exemptions/relaxations granted by SEBI from applicable SEBI regulations and guidelines. This press release and the SEBI Letter are being furnished to the U.S. Securities and Exchange Commission (the “SEC”) on Form 6-K, and are available to the public over the Internet at the SEC’s website at http://www.sec.gov and on the website of Bombay Stock Exchange and National Stock Exchange.

This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and its management, as well as financial statements. The Company does not intend to register any securities in the United States or to conduct a public offering of securities in the United States.

As previously disclosed, the Company Law Board Principal Bench New Delhi authorized the Company’s Board of Directors to select an investor, subject to certain conditions. SEBI’s approval is not an assurance that any qualified investor will bid to acquire any interest in the Company at an appropriate price or at all.

Satyam Contacts:

For clarifications, write to us at MediaRelations@Satyam.com Or contact our global Satyam PR representatives at:

India             Archana Muthappa Archana_Muthappa@Satyam.com
+91-984-518-3710

US                  Bob Olivier Robert_Olivier@Satyam.com
+1-301-654-0535

Europe           Sandeep Thawani Sandeep_Thawani@Satyam.com
+44-783-010-3838

Asia-Pacific    Dan Bleakman Dan@howorth.com.au
+61-439-408-484
Reshma Wad Jan Reshma@wer1.net
+65-98-140-507

 

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Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise™. We are a USD 4.4 billion company with 117,600+ professionals across 90 countries, helping over 840 global customers including Fortune 500 companies. Our convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to our stakeholders. Tech Mahindra is amongst the Fab 50 companies in Asia as per Forbes 2016 list.

The Mahindra Group is a USD 19 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defence and two wheelers. Headquartered in India, Mahindra employs over 200,000 people across 100 countries.

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