Tech Mahindra said on Wednesday that it would own about 44 per cent of Satyam after preference share sale.
The company said there was no significant tendering of Satyam shares in the open offer. Tech Mahindra’s open offer to purchase additional 20 per cent in Satyam closes today.
If the open offer fails to evoke a good response, Satyam can issue fresh preference shares to Tech Mahindra.
The buzz is that the open offer has not got a good response from the market and it has been subscribed less than 5 per cent.
The open offer was made in pursuant to Tech Mahindra buying 31 per cent stake in Satyam for Rs 1,756 crore through issue of preferential shares after an auction process conducted by the government-appointed board of crisis-hit company
source: NDTVPROFIT
The company said there was no significant tendering of Satyam shares in the open offer. Tech Mahindra’s open offer to purchase additional 20 per cent in Satyam closes today.
If the open offer fails to evoke a good response, Satyam can issue fresh preference shares to Tech Mahindra.
The buzz is that the open offer has not got a good response from the market and it has been subscribed less than 5 per cent.
The open offer was made in pursuant to Tech Mahindra buying 31 per cent stake in Satyam for Rs 1,756 crore through issue of preferential shares after an auction process conducted by the government-appointed board of crisis-hit company
source: NDTVPROFIT
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