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Tech Mahindra buys 22.14% stake in Comviva from Bharti Group for Rs 227 cr

Post this, Tech Mahindra will hold 99.17% stake in CTL

Press Trust of India  |  New Delhi 

Tech Mahindra
(Photo: Reuters)

IT firm on Friday said it has acquired additional 22.14 per cent stake in Ltd (CTL) from for Rs 226.9 crore.

Besides, the company is in the process of buying another 9.93 per cent stake in CTL from for a consideration of Rs 101.75 crore in cash, it said in a BSE filing.

"has acquired from the further stake of 22.14 per cent (48,41,050 equity shares) for a consideration of Rs 226.9 crore paid in cash," it said.

It added that the process of acquiring 21.70 lakh equity shares from (worth Rs 101.75 crore) in cash is likely to be completed in this month.

"Post this, will hold 99.17 per cent stake in CTL," it said.

Shares of Tech Mahindra closed at Rs 492.55 apiece, up marginally from its previous close on the BSE.

First Published: Fri, December 22 2017. 22:46 IST