Tech Mahindra on Wednesday said it was planning to pay back about Rs 1,000 crore debt, for which it was issuing shares on private placement basis. Yesterday, Tech Mahindra board had approved the issue of 1.36 crore shares by way of private placement or Qualified Institutional Placement (QIP).

Also Read   Related Stories News Now - Better pricing drew more fliers in Apr - Centre rules out coal price hike, for now - Jaiprakash Power Ventures to merge with group company - Some ring tone - Games and movies on the cloud - Salve didn't know?   Also Read   Related Stories News Now - Sensex makes remarkable recovery, regains 17K - Spectrum is a tax riddle, says PwC - Bajaj to ramp up Pulsar production - Five of top-10 cos lose Rs 24k cr; RIL on top slot - ICICI, Infosys among best firms for nurturing talent More

“We have asked for about up to 10 per cent (about 13.5 million) shares, but evetually what we get depends on the price,” Tech Mahindra CEO Sanjay Kalra said.

Other Stories      - Sensex makes remarkable recovery, regains 17K - Spectrum is a tax riddle, says PwC - Bajaj to ramp up Pulsar production - Five of top-10 cos lose Rs 24k cr; RIL on top slot - ICICI, Infosys among best firms for nurturing talent More

Tags : Tech Mahindra   Read Business news in  Advertisements   Get financial advisory and solutions for your projects   Holidays starting at a delightful EMI of Rs 3481   Switch on and say hello to Monday morning !   Your dream home can now be a reality.   Visit Fortis for a preventive health check-up & get a 20% discount.   Follow the ups and downs of your investments. Try our new Portfolio Tracker   Kolkata Dock \ Freight contract for the British Gurkhas Nepal   Find how Midsize Businesses use ERP to gain competitive advantage   Trading in Forex is now as easy as 1-2-3   Discover an economical and cost effective way to market your products and services   Giftwithlove.com: Same day delivery of Flowers and Cakes to India   Download the E-book on the Future of Business Intelligence   Learn Best Practices for improving customer satisfaction   Know your customers better... download the free e-book on CRM