Tech Mahindra raises Rs.600 crore to fund Satyam acquisition

IT major Tech Mahindra on Saturday informed that it raised Rs. 600 crore through debt instrument. The company needs to pay R s 1756 crore for acquiring 31 per cent stake in Satyam Computer Services, according to media reports.

The stake of 31 per cent to be submitted on April 21. Under the share subscription agreement signed by the winning bidder and the board, Tech Mahindra will have to deposit the bid amount in an escrow account by April 21.