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| Exchange Received Time 22/12/2017 17:31:27 Exchange Disseminated Time 22/12/2017 17:31:32 Time Taken 00:00:05 |
December 22, 2017
To
The Manager
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street,
MUMBAI - 400 001
Scrip C
Sub: Acquisition of further stake of 32.07% in Comviva Technologies Limited (CTL)
Dear Sir(s)
Further to our intimation dated 17th September, 2012, this is to inform that, in terms of the shareholders agreement, Tech Mahindra Limited has acquired from the Bharti Group further stake of 22.14% (48,41,050 equity shares of Rs. 10 each) 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 ) 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 CTL.
Kindly put this intimation on your bulletin board for information of investors.
Thanking you,
For Tech Mahindra Limited
Anil Khatri
Company Secretary
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