Tech Mahindra, the new owner of Satyam Computer Services, has been trading in shares of the Hyderabad-based IT company and has lost about Rs 6.40 crore in bourses.
Tech Mahindra bought and sold 1.21 crore shares during the past one year, said the public announcement made by Satyam Computer Services to its shareholders today.
The company paid Rs 59.25 to Rs 48.75 for the Satyam shares with average purchase price working out to be Rs 55.79 per share, according to the information provided in the public offer.
Tech Mahindra, which is now acquiring Satyam shares through its wholly owned subsidiary Venturbay Consultants at Rs 58 per share, did not retain the shares bought at an average price of Rs 55.79 per share.
The company sold all the shares at a price ranging from Rs 56.80 to Rs 45.50. The average selling price was Rs 50.69 per share, the document said.
Having won the bid to buy the beleaguered Satyam, Tech Mahindra through its subsidiary Venturbay, has already paid Rs 58 per share for 30.28 crore shares to acquire 31 per cent stake in the IT company.
As per the SEBI Takeover Code, Venturbay today made a public offer to acquire 20 per cent more shares in Satyam at Rs 58 per share.
