Tech Mahindra — M&A Activity 2023

Sep 21, 2023

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Date: 21-09-2023

To, Listing Department Listing Department BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th floor, Plot No. - C/1, Dalal Street, G Block, Bandra-Kurla Complex, Mumbai - 400001. Bandra (E), Mumbai - 400051. Scrip Code : 532755 NSE Symbol : TECHM

Sub: Intimation of Plan of Merger under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir/Madam

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (“SEBI Listing Regulations”), we wish to inform that a Plan of Merger of Tech Mahindra Credit Solutions Inc with its parent Tech Mahindra (Americas) Inc., a wholly owned material subsidiary of the Company is approved on September 21, 2023.

The details as required under SEBI Listing Regulations, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13[th] July, 2023, for the said merger is enclosed herewith as Annexure ‘A’.

This is for your information and record.

Thanking you,

For Tech Mahindra Limited

Anil Digitally signed by Anil Mohanlal Mohanlal Khatri Date: 2023.09.21 Khatri 16:57:18 +05'30' Anil Khatri Company Secretary

Encl.: As above

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Annexure A

Details under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Sr. No.	Items for Disclosure	Description
1	Name of the entity(ies) forming part of the amalgamation/merger, details in brief such as, size, turnover etc.	Tech Mahindra Credit Solutions Inc (TMCSI) - Transferor Company incorporated in the year 2020. Tech Mahindra (Americas) Inc. (TMA) - Transferee Company incorporated in the year 1993. While TMCSI is a non-operating entity, the turnover of TMA for the year ended 31-March-2023 is USD 1201.36 mn.
2	Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arm’s length”	TMCSI is a wholly owned subsidiary of TMA, and no new shares are issued.
3	Area of business of the entity(ies)	TMCSI was incorporated to provide collection agency services to reputed customers in the US. TMA is a wholly owned material subsidiary of Tech Mahindra Limited (“TML”) which provides computer consulting, programming support services and IT Management & Consulting Services.
4	Rationale for amalgamation/ merger	Consolidation of entities to optimize operational cost and reduce the compliance risk.
5	In case of cash consideration – amount or otherwise share exchange ratio.	Not applicable.
6	Brief details of change in shareholding pattern (if any) of listed entity	Not applicable.

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