Tech Mahindra raises Rs 600 crore loan

Tech Mahindra raises Rs 600 crore loan

Tech Mahindra raises Rs 600 crore loan

Tech Mahindra, which acquired controlling stake in Satyam Computer Services through its arm Venturbay Consultants, approved by the government-appointed board of Satyam, needs to pay Rs 1,756 crore by April 21 to own 31 % shares and has raised Rs 600 crore debt through issuance of bonds.

The take-over deal has also been approved by the Company Law Board, which has also asked Tech Mahindra to make the payment by April 21.

Tech Mahindra informed the Bombay Stock Exchange that it alloted 6000 non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 600 crore on April 17.

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