Monday, April 13, 2009

Satyam Bid Won By Tech Mahindra

Tech Mahindra is the winner of auction process of Satyam Computer Services. Tech Mahindra will buy 31% equity at 58 rupees per share. Whereas, other players like L & T and others had offerd around 49.50 rupees per share.

The cost of entire Satyam bid is $351 million for 31% stake and for remaining 20% Tech Mahindra have to make an open offer at price of 58 rupees per share. The announcement of open offer will take place within four days from the approval of Company Law Board.