Tech Mahindra announces final results of tender offer for shares of Satyam

Company Brief

Chennai, July 06, 2009

Tech Mahindra today announced the final results of the tender offer by its wholly owned subsidiary Venturbay Consultants Private Limited to purchase up to 20% of the outstanding shares of common stock of Satyam Computer Services Limited.  The tender offer had expired at 7:00 a.m. New York City Time, which is 4:30 p.m. Indian Standard Time, on Wednesday, July 1, 2009.

The registrar to the tender offer has advised Tech Mahindra that a total of 420,915 shares of Satyam common stock (including 268,656 shares underlying ADSs) were validly tendered and not withdrawn, representing less than 0.1% of the outstanding shares of common stock.  These shares, together with the shares beneficially owned by Tech Mahindra and its wholly owned subsidiary, represent approximately 31.04% of Satyam’s outstanding shares of common stock. 

Tech Mahindra intends to subscribe for 198,658,498 additional shares at Rupees 58 per share in the subsequent allotment in accordance with the Share Subscription Agreement entered into among Satyam, Tech Mahindra and Venturbay.

For further information, please contact:

Sampark PR

Murugan.G

Mobile: 98412 78904

Email: murugan.g@sampark.com