Tech Mahindra to be listed on Mon

Tech Mahindra will be listed on the BSE and the NSE on Monday, August 28, 2006.

The initial public offering (IPO) of Tech Mahindra, which closed for subscription on August 4, 2006, received over 1.93 lakh bids. The issue, offered in a price band of Rs 315-365, has been priced at the upper end of the price band at Rs 365 per share.

The IPO of 1,27,46,000 equity shares of Rs 10 each, consisting of a fresh issue of 31,86,480 equity shares and an offer for sale of 95,59,520 equity shares by Mahindra and Mahindra and British Telecommunications Plc (of the issue 11,58,790 equity shares were reserved for eligible employees), constituted 11% of the post issue paid-up capital of the company, and the net issue constituted 10% of the post issue capital.