Tech Mahindra hikes stake in Comviva Technologies

By acquisition of stake held by Bharti Group and Westbridge Ventures II Investment Holdings

Tech Mahindra has acquired from the Bharti Group further stake of 22.14% (48,41,050 equity shares of Rs. 10 each) in Comviva Technologies for a consideration of Rs. 226.9 crore paid in cash.

Further the Company is in the process of acquiring from Westbridge Ventures II Investment Holdings, stake of 9.93% ( 21,70,931 equity shares of Rs. 10/- each ) in Comviva Technologies for a consideration of Rs. 101.75 crore in cash. This process is likely to be completed in this month.

Post this, Tech Mahindra will hold 99.17% stake in Comviva Technologies .

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