Press Esc to close
Tuesday 27 June 2017
News updated at 5:36 PM IST

BT exits Tech Mahindra for Rs 1,011 cr

New Delhi, Dec 12, 2012, PTI : 21:50 IST
British telecom giant BT has offloaded 9.1 per cent stake in Tech Mahindra for Rs 1,011.4 crore, marking its exit from the Indian IT services firm.

“BT (British Telecom) has completed the sale of its remaining 9.1 per cent shareholding (11.6 million shares) in Tech Mahindra to institutional investors for total gross cash proceeds of Rs 1,011.4 crore (GBP 115.7 million) at Rs 871 per share,” BT said in a statement on Wednesday.

Reacting to the announcement, Tech Mahindra shares jumped 3.68 per cent to Rs 910.70 on the BSE in afternoon trade.

In August 2012, BT sold 14.1 per cent stake in Tech Mahindra to institutional investors for about Rs 1,395 crore. Following this sale, the British company, which had 9.1 per cent shareholding in Tech Mahindra that time, had said that it might consider further sales in future.

Go to Top

Photo Gallery
A black kite flies past during Sunrise in New Delhi...

A black kite flies past during Sunrise in New Delhi...

Bollywood actress Kajol with Soundarya and Dhanush during the trailer launch of film VIP 2...

Bollywood actress Kajol with Soundarya and Dhanush during the trailer launch of film VIP 2...

Pakistani women greet each others after the Eid al-Fitr prayers...

Pakistani women greet each others after the Eid al-Fitr prayers...

A Barbary lion cub, stands next to its father 'Schroeder' at the zoo in Neuwied, Germany...

A Barbary lion cub, stands next to its father 'Schroeder' at the zoo in Neuwied, Germany...

Winners of 8th Men Mega Mr. North East and 15th Miss North East 2017, Mary Khemlang (Center)...

Winners of 8th Men Mega Mr. North East and 15th Miss North East 2017, Mary Khemlang (Center)...

Bollywood actors Huma Qureshi and Dhanush during the trailer launch of film VIP 2 Lalkar...

Bollywood actors Huma Qureshi and Dhanush during the trailer launch of film VIP 2 Lalkar...

Muslims offering namaz at historical Taj Mahal on the occasion of Eid-ul-Fitr...

Muslims offering namaz at historical Taj Mahal on the occasion of Eid-ul-Fitr...

Obama and his family arrived last week on the resort island for a vacation...

Obama and his family arrived last week on the resort island for a vacation...

Smoke rises from the ground by charred trees near the access to the Cuesta Maneli beach...

Smoke rises from the ground by charred trees near the access to the Cuesta Maneli beach...

President Pranab Mukherjee receiving Eid greetings from various groups of people...

President Pranab Mukherjee receiving Eid greetings from various groups of people...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.