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Shareholders of Mahindra Satyam will soon get shares of Tech Mahindra. Consequent to the amalgamation of the two companies, Tech Mahindra has initiated technical process to dissolve shares of Satyam and allot new shares to the investors.
It will take about 10-14 days to complete the process. The trading in shares will be suspended from July 4. Shareholders of Satyam will get one share (Rs 10 each) of Tech Mahindra for every 8.5 shares (Rs 2 each) they hold in the company.
Tech Mahindra has transferred 20.40 crore shares of Satyam to TML Benefit Trust following the merger.
After the suspension of trading, the company will identify the shareholders, send the list to the board, get its approval before allotting them. “This process will take about 10 days,” G. Jayaraman, the Company Secretary and Compliance Officer of the merged entity, told Business Line .
Shares of Tech Mahindra slid by 2.35 per cent on the BSE on Monday and closed at Rs 1,034. Shares of Satyam closed at Rs 119.50, down by 2 per cent.
> kurmanath.kanchi@thehindu.co.in
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