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

(This article was published on July 12, 2013)
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