Tech Mahindra & Mahindra Satyam Merging announced with Swap ratio at 8.5:1 | Tech Mahindra & Mahindra Satyam Merging Initiated
As per the reports , the boards of Tech Mahindra and Mahindra Satyam have announced the merging ratio. The merger ratio is pegged at 8.5:1, which means share holders get 8.5 share of Mahindra Satyam for each share of Tech Mahindra. Meanwhile, the record date for merger will announced later.
Now Mahindra Satyam will be merged into Tech Mahindra where 20.4 crore Satyam shares will transferred to Tech Mah trust. Also, all assets & liabilities will be transferred to Tech Mah at book.
Mahindra Satyam touched an intraday high of Rs 76.90 and an intraday low of Rs 70. At 09:29 hrs the share was quoting at Rs 74.95, up Rs 0.80, or 1.08%. It was trading with volumes of 1,034,547 shares.
Tech Mahindra touched an intraday high of Rs 666 and an intraday low of Rs 650. At 09:29 hrs the share was quoting at Rs 655.20, up Rs 6.85, or 1.06%. It was trading with volumes of 54,407 shares.