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After winning the bid for Satyam Computer Services, in a global auction, Tech Mahindra has now been allotted 30.28 crore equity shares of the former. Satyam allotted the shares, representing 31 percent of the share capital, to Venturbay Consultants. The latter is a subsidiary of Tech Mahindra, which is taking over a controlling stake in the IT major hit by scam.
As per the statement released by Satyam Computer Services, the board of directors of the company allotted 30,27,64,327 equity shares to Venturbay Consultants, on preferential basis. After the allotment of the shares, the paid-up share capital of the company has increased by Rs 60,55,28,654, representing approx. 30.28 crore equity shares of Rs.2 each.
At present, the paid-up share capital of Satyam Computer Services is Rs.195,34,44,694, representing 97,67,22,347 equity shares of Rs.2. each, up from Rs.134,79,16,040 (in the past). Earlier (on April 22), Tech Mahindra had announced its open offer for a 20-percent additional stake in Satyam Computer Services, at Rs.58 per share.
