Tech Mahindra divests 73.38% stake in subsidiary FixStream Networks to US-based company for $2 million
Tech Mahindra said that the amount received from the said divestment in its subsidiary FixStream Networks is $2 million for the equity held by the company, subject to necessary adjustments.
- Aug 18, 2019,
- Updated Aug 18, 2019 6:44 PM IST
Tech Mahindra, the country's leading software services company Sunday announced the divestment of 73.38% stake in its subsidiary FixStream Networks Inc to US-based Resolve Systems LLC for an amount of $2 million (approx Rs 14.22 crore).
"In terms of the authority delegated by the Board of Directors we wish to inform divestment of 73.38 per cent equity investment held by the company in FixStream Networks Inc, USA, a subsidiary company," Tech Mahindra said in a BSE filing.
The Software major said that the amount received from the said divestment in its subsidiary is $2 million for the equity held by the company, subject to necessary adjustments.
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Tech Mahindra, the country's leading software services company Sunday announced the divestment of 73.38% stake in its subsidiary FixStream Networks Inc to US-based Resolve Systems LLC for an amount of $2 million (approx Rs 14.22 crore).
"In terms of the authority delegated by the Board of Directors we wish to inform divestment of 73.38 per cent equity investment held by the company in FixStream Networks Inc, USA, a subsidiary company," Tech Mahindra said in a BSE filing.
The Software major said that the amount received from the said divestment in its subsidiary is $2 million for the equity held by the company, subject to necessary adjustments.
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