IT major Tech Mahindra will sell its entire stake in its Netherlands-based subsidiary Dinacommerce Holdings BV to its spin-off subsidiary Comviva Netherlands for around Rs 58 crore, the company said in a regulatory filing.
The deal is expected to be signed during the first week of January 2023, and the transaction is expected to close around the same time.
“We wish to inform you that the Company has approved the sale of 100 percent stake in Dinacommerce Holdings BV, a wholly-owned subsidiary of the Company, to Comviva Netherlands BV, a withdrawing subsidiary of the Company,” Tech Mahindra said in the filing.
Tech Mahindra will get 6.6 million euros, or about 58 million rupees, from the deal, the filing said. PTI PRS MR
To stay up to date with the latest stock market news, download our app here!
For editorial purposes, please contact [email protected]
Start your journey in finance
Want to learn the stock market and other financial products? Be sure to check out FinGrad, Trade Brains’ learning initiative. Click here to register today to start your 3-day FREE trail. And don’t miss the Introductory Offer!!