Surrounded in hullabaloo and scandal with Satyam Computers for Tech Mahindra is the largest bid. Tech Mahindra win against Engineering giant Larson and Tourbo and private equity giant Wilbur Ross. Tech Mahindra bid 58 rupees per share of Satyam and it’s total amount for 51 per cent for Satyam to pay Rs 2,890 crore.
Satyam Computer Services, in the process of selling a majority stake on Monday, Tech Mahindra, L & T and Wilbur Ross opened his bid with the control of the Hyderabad-based company to receive the top contenders in the middle of the leaves.Earlier, 31 per cent of Satyam's stake sale process was completed. Satyam Chairman of the Board, according to Kiran For 31 per cent of Satyam's stake sold for was going to bid.
The race to buy stake in Tech Mahindra and Larsen & Tubron were on the forefront. On behalf of the Government appointed the board of the company's minimum bid price for the shares of Satyam, which will decide the current market price will be close to. The highest bidding company's stake to 31 per cent will be given.
Tech Mahindra will have to pay Rs 1757 crore for 31% at Rs 58 per share, whereas for the total 51% stake the company will have to pay Rs 2890 crore. Satyam will now have a market capitalization of Rs 5666 crore on expanded equity. Sources say that Tech Mahindra may rope in PE investor and will subscribe to additional equity to a PE partner.
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The real Impact of the deal on Tech Mahindra would evolve in the days to come as it aligns the maligned Software firm’s business within its frame of operations and makes sure that clients do not move away from it. The impact of litigation related to Satyam fraud would also be a challenge for the company.
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