Shareholders of Mahindra Satyam have received one share of Tech Mahindra (Rs 10 each) for every 8.5 shares of Rs 2 each they had in the erstwhile Satyam that was absorbed in Tech Mahindra.
Trading of Satyam shares has been stopped from July 5 to facilitate identification of the investors and the number of shares they would get in the new entity.
In a communication to the Bombay Stock Exchange on Friday, G. Jayaraman, Company Secretary, said the issued capital of the company has gone up to 23.2 crore shares from 12.9 crore shares.
“The shares swap has since been completed and the stock exchanges have accorded their approval for trading the new shares effective July 12,” he said.
The company had received the Andhra Pradesh High Court nod in the second week of June for the amalgamation of the two firms. Two weeks later, the company announced the new brand entity (Tech Mahindra), removing the Satyam tag.
>kurmanath.kanchi@thehindu.co.in
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.