Tech Mahindra has stated that it has changed the date of forwarding letter of open bid to the shareowners of the IT Major Satyam Computers from planned 3rd to 9th June.
Likewise, the shareowners can cancel their application by 26th June opposed to previous 27th June. The other actions will happen as planned previously.
Tech Mahindra is about to obtain 20% stake in the distressed IT chief through the open bid at Rs.58 on each share adding up to Rs.1,154crore.
Kotak Mahindra Capital is operating as a merchant banker for the open bid.
Tech Mahindra had already obtained 31% in the IT Major firm for Rs.1,756crore through a favored generation of shares.