Tech Mahindra IPO

By agencies   |   Wednesday, 26 July 2006, 07:00 Hrs
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MUMBAI: Tech Mahindra Ltd. today said it had priced its shares at 315 to 365 for its forthcoming Initial Public Offer.

Tech Mahindra is a venture between India's Mahindra and Mahindra Ltd. (M&M) and UK's BT Group Plc.

The public issue of 12,746,000 equity shares, consisting of fresh issue of 3,186,480 equity shares and offer for sale of 9,559,520 equity shares by M&M and BT.

The issue price is 31.5 times the face value at lower end of price band, and 36.5 times at top of the band.

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