1
Tech Mahindra to hike Sathyam stake to 42.7% on 13th July 2009, 9:07 am
Nidhin Das
CSoC Smart User
The Board of Mahindra Satyam cleared a proposal of Venturebay, a unit of Tech Mahindra, to hike its stake in the company (Mahindra Satyam) through a second round of preferential share allotment to 42.7 per cent.
A Tech Mahindra spokesperson said after the preferential allotment Venturebay's stake in Mahindra Satyam would be 42.7 per cent.
"Satyam has stabilised. It was a normal board meeting.
The main issue was allocation of shares, which is being done," Kiran Karnik, Chairman, Board of Satyam, said in New Delhi.
Regards
Nidhin
A Tech Mahindra spokesperson said after the preferential allotment Venturebay's stake in Mahindra Satyam would be 42.7 per cent.
"Satyam has stabilised. It was a normal board meeting.
The main issue was allocation of shares, which is being done," Kiran Karnik, Chairman, Board of Satyam, said in New Delhi.
Regards
Nidhin