Tech Mahindra is trading higher by nearly 3% at Rs 1,028 after the company has merged Mahindra Satyam within itself.
The trading of Mahindra Satyam shares has been suspended from today as the swap ratio of Mahindra Satyam and Tech Mahindra will come into force.
Tech Mahindra informed BSE that "the board of directors at its meeting held on June 25, 2013 has fixed July 05, 2013 as the record date for determining the shareholders of Satyam Computer Services ('Mahindra Satyam') who would be entitled to receive shares of the company under the approved scheme".
The boards of Mahindra Satyam and Tech Mahindra last year proposed a swap ratio of 2:17. Mahindra Satyam shareholders will get two shares of Tech Mahindra of Rs 10 each for every 17 shares they hold.
The stock opened at Rs 1,026 and hit a high of Rs 1,031 on NSE. A combined 310,092 shares have changed hands on the counter so far on NSE and BSE.
The trading of Mahindra Satyam shares has been suspended from today as the swap ratio of Mahindra Satyam and Tech Mahindra will come into force.
Tech Mahindra informed BSE that "the board of directors at its meeting held on June 25, 2013 has fixed July 05, 2013 as the record date for determining the shareholders of Satyam Computer Services ('Mahindra Satyam') who would be entitled to receive shares of the company under the approved scheme".
The boards of Mahindra Satyam and Tech Mahindra last year proposed a swap ratio of 2:17. Mahindra Satyam shareholders will get two shares of Tech Mahindra of Rs 10 each for every 17 shares they hold.
The stock opened at Rs 1,026 and hit a high of Rs 1,031 on NSE. A combined 310,092 shares have changed hands on the counter so far on NSE and BSE.
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