Tech Mahindra to sell entire stake in Dynacommerce Holdings to Comviva Netherlands

The agreement for the deal is expected to be signed during the first week of January 2023 and the transaction is expected to complete around the same time.

Tech Mahindra to sell entire stake in Dynacommerce Holdings to Comviva Netherlands
Tech Mahindra will get 6.6 million euro or about Rs 58 crore from the deal, according to the filing. Pic: Reuters

IT company Tech Mahindra will sell its entire stake in its the Netherlands-based subsidiary Dynacommerce Holdings BV to its step-down subsidiary Comviva Netherlands for about Rs 58 crore, the company said in a regulatory filing.

The agreement for the deal is expected to be signed during the first week of January 2023 and the transaction is expected to complete around the same time.

Also Read: IT companies at STPI, SEZs exported software worth Rs 11.59 lakh crore in 2021-22: Govt

"We wish to inform you that the Company has approved the sale of 100 per cent stake in Dynacommerce Holdings BV, a wholly-owned subsidiary of the Company to Comviva Netherlands BV, a step-down subsidiary of the Company," Tech Mahindra said in the filing.

Tech Mahindra will get 6.6 million euro or about Rs 58 crore from the deal, according to the filing.

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Written By: PTI
Updated: Sat, Dec 17, 2022
08:45 AM IST
PTI
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