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Excon, Excon 2011 Biggest Construction Equipment Trade fair India.

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Mahindra Satyam to merge with Tech Mahindra

7/18/2009 1:57:00 PM

Mumbai, June (EPC News): Software services firm Tech Mahindra Ltd said that its board had approved issuing up to 13.6 million shares by way of private placement or to institutional investors.

The company did not disclose how much it planned to raise or what the proceeds would be used for. Tech Mahindra, which is 31% owned by Britain's BT Group, emerged a winner in an auction in April for a controlling stake in fraud-tainted outsourcer Satyam Computer Services.