Tech Mahindra Limited — JV/Acquisition, 11-12-2024: Amalgamation/Merger

Tech Mahindra has approved a merger of its wholly-owned subsidiary Eventus Solutions Group, LLC with Tech Mahindra (Americas) Inc., its other wholly-owned material subsidiary. The merger aims to create operational synergies and optimize costs by consolidating the complimentary businesses, which collectively generated a turnover of USD 1,205.78 million for the fiscal year ending March 2024. The appointed date for the merger is January 1, 2025, with regulatory approvals pending. There will be no cash consideration involved, and the shareholding pattern of Tech Mahindra will remain unchanged.