The Hindu Business Line : Mahindra Satyam to issue new shares

Hyderabad, July 8 Mahindra Satyam, formerly Satyam Computer Services, has announced that it would soon issue and allot 19.86 crore shares at Rs 58 to Venturbay Consultants Pvt Ltd, a subsidiary of Tech Mahindra Ltd.

In a statement here on Wedensday, Mahindra Satyam said the shares would be issued after it received Rs 1,152 crore, currently deposited in the escrow account meant for the acquisition of the Hyderabad-based IT major.

On Tuesday, the Company Law Board had allowed Mahindra Satyam to issue the additional shares to Venturbay.

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