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Tech Mahindra — M&A Activity 2025
Feb 28, 2025
35662_rns_2025-02-28_515aa8ca-f3c3-4eed-aac9-1c8ee7f46c2e.pdf
M&A Activity
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Tech Mahindra Limited
Sharda Centre, Off Karve Road, Pune - 411004, Maharashtra, India Tel. +91 20 6601 8100
techmahindra.com [email protected]
CIN L64200MH1986PLCO41370
Date: February 28, 2025
To Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001. Scrip Code : 532755
Listing Department National Stock Exchange of India Ltd. Exchange Plaza, 5th floor, Plot No. - C/1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051. NSE Symbol : TECHM
Sub: Intimation of Plan of Merger of step-down subsidiaries of the Company - Regulation 30 of the Securities and Exchange Board of India (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 Comviva Technologies USA, Inc. with its parent company viz. Comviva Technologies Americas Inc., wholly-owned subsidiary of Comviva Technologies Limited, India (‘Comviva’) , and step-down subsidiaries of the Company has been approved by the Board of Directors of the respective companies on Thursday, February 27, 2025.
The intimation of the same was received by the Company on Friday, February 28, 2025 at 10 a.m. (IST).
The merger is subject to regulatory approvals in the country of incorporation. The appointed date of the Plan of Merger is March 01, 2025.
In this regard, please find enclosed herewith the disclosure containing details as required under Regulation 30(6) read with clause (1) of Para A of Part A of Schedule III of the SEBI Listing Regulations and the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13[th] July, 2023, as Annexure ‘A’.
The above information is also available on the website of the Company at www.techmahindra.com
This is for your information and records.
Thanking you,
For Tech Mahindra Limited
Ruchie Digitally signed by Ruchie Khanna Khanna Date: 2025.02.28 15:17:39 +05'30'
Ruchie Khanna Company Secretary
Encl.: As above
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Tech Mahindra Limited
Sharda Centre, Off Karve Road, Pune - 411004, Maharashtra, India Tel. +91 20 6601 8100
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techmahindra.com [email protected] CIN L64200MH1986PLCO41370
Annexure A
Details under Regulation 30(6) read with clause (1) of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July, 2023
Plan of Merger of the subsidiaries of the Company
| ails under Regusting ObligationBI/HO/CFD/CF | lation 30(6)s and DiscloD-PoD-1/P/Plan of | read with clause (1) of Para Asure Requirements) RegulatCIR/2023/123 dated 13th JulMerger of the subsidiaries of | read with clause (1) of Para Asure Requirements) RegulatCIR/2023/123 dated 13th JulMerger of the subsidiaries of | of Part A oions, 2015 ay, 2023the Compa | Tel. +91 20 660techmahindra.coconnect@techmaCIN L64200MH1Annf Schedule III of tnd the SEBI Circny | 1 8100mhindra.com986PLCO4137exure Ahe SEBIular No. | 1 8100mhindra.com986PLCO4137exure Ahe SEBIular No. | 1 8100mhindra.com986PLCO4137exure Ahe SEBIular No. | |
|---|---|---|---|---|---|---|---|---|---|
| Sr.No. | Items f | or Disclosur | e | Desc | ription | ||||
| 1. | Name of the entthe amalgamatibrief such as, si | ity(ies) formon/merger, dze, turnover | ing part ofetails inetc. | Comviva TechnTransferor ComComviva USA iTechnologies Athe Company.CiT | ologies USpany was is a whollymericas Inc. li | A Inc.(‘Comvivncorporated in Flowned subsidiaryand a step-downiI | a USA’)–orida, USA.of Comvivasubsidiary of‘Ci | ||
| omvvaecAmericas’)- TrDelaware, USA.subsidiary of | nooges ansferee CoComvivaComviva | mercas,nc.mpany was incAmericas is a wTechnologies Li | (omvvaorporated inholly-ownedmited, India | ||||||
| (‘Comviva’) andThe turnover ofthe financial yeamillion and USD | a step-dowComviva Ur ended 3119.05 milli | n subsidiary of theSA and ComvivastMarch 2024 waon respectively. | Company.Americas fors USD 0.65 | ||||||
| 2. | Whether thewithin related pwhether the salength” | transactionarty transactime is done | would fallons? If yes,at “arm’s | Yes.It is done at arm’ | s length. | ||||
| 3 | Area of busines | s of the entit | y(ies) | Comviva USA wservices and solu | as engagedtions. | in the business of | providing IT | ||
| Comviva AmeriStorage and Proc | cas is engaessing Platf | ged in the businorm (VSPP). | ess of Video | ||||||
| 4 | Rationale for a | malgamation/ | merger | Consolidation ofoperational cost | these entitieand reductio | s will result in opn in the complianc | timization ofe risk. | ||
| 5 | In case of cashor otherwise sh | considerationare exchange | – amountratio. | Since the transfeof transferee Co | ror Companmpany, there | y is a wholly ownwill be no cash c | ed subsidiaryonsideration | ||
| or issue of new shares involved under the Plan of Merger. TheInvestment held by Comviva Americas in Comviva USA willbe cancelled. |
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| Tech Mahindra LimitedSharda Centre, Of Karve Road,Pune - 411004, Maharashtra, ITel. +91 20 6601 8100techmahindra.com[email protected]CIN L64200MH1986PLCO413 | |||
|---|---|---|---|
| Sr.No. | Items for Disclosure | Description | |
| 6 | Brief details of change in shareholdingpattern (if any) of listed entity | Not applicable.The Company is not a party to the Plan of Merger and theshareholding pattern of the Company remains unchanged. |
Sharda Centre, Off Karve Road, Pune - 411004, Maharashtra, India Tel. +91 20 6601 8100 techmahindra.com [email protected]
CIN L64200MH1986PLCO41370
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