Tech Mahindra pares stake in SARL Djazatech

27 Jun 2023 , 11:44 AM

Tech Mahindra’s stock remained unchanged on the morning of June 27 following the company’s announcement regarding its step-down subsidiary, LCC France SARL. The subsidiary has given its approval to sell its 49% ownership in SARL Djazatech and its wholly-owned subsidiary, EURL LCCUK Algerie.

The company expects the sale to be completed by July 10, 2023.

Comviva Technologies Limited and its step-down subsidiary, Comviva Technologies BV, agreed earlier this month to sell 0.04% and 99.96% shareholdings in Comviva Technologies do Brasil Industria and Comércio, Importaço e Exportaço Ltda. The transaction is expected to be completed on or before August 31, 2023.

The company also informed the bourses that the 36th Annual General Meeting of the company is scheduled to be held on July 27.

At around 11.36 AM, Tech Mahindra’s counter was trading at Rs 1,113.50 per piece, against the previous close of Rs 1,111.90 on NSE. The counter touched an intraday high of Rs 1,116.90.

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