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Satyam allots 30.28 crore shares to Tech Mahindra

Satyam Computer Services Tuesday said it has allotted 30.28 crore equity shares, representing 31 percent of the share capital, to Venturbay Consultants, a subsidiary of Tech Mahindra, which is acquiring a controlling stake in the scam-hit IT major.

"The board of directors of the company allotted 30,27,64,327 equity shares on preferential basis to Venturbay Consultants," the company said in a statement.

Consequent to this allotment, the paid-up share capital of the company has gone up from 67,39,58,020 equity shares of Rs.2 each aggregating Rs.134,79,16,040 to 97,67,22,347 equity shares of Rs.2. each worth Rs.195,34,44,694.

Tech Mahindra had April 22 announced its open offer for a 20-percent additional stake in Satyam Computer Services at Rs.58 per share, after buying 31 percent equity in the IT bellwether following a global auction.