Tech mahindra
Tech mahindra

Tech Mahindra Completes Share Swap

Achieves key mile-stone in concluding the merger process

Mumbai – July 12, 2013 - Tech Mahindra Ltd. a specialist provider of connected solutions to the connected world and enabling future digital enterprises, today announced that it has completed the process of allocating shares of Tech Mahindra Ltd. to the shareholders of erstwhile Satyam Computer Services Ltd. This also means that the issued capital of the company has gone up from earlier 129mn shares to 232mn 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.

Commenting on this development, Jayaraman G, Company Secretary & Chief Compliance Officer said, “This is a very important milestone for Tech Mahindra, as we move ahead in our new journey. The quick completion of share swap indicates our commitment to create value for our shareholders.

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.

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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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