Whats might be the target price of satyam by this month end
Published on Tue, Jun 09, 2009 at 15:02 , Updated at Wed, Jun 10, 2009 at 10:47
Source : CNBC-TV18
The stock that is buzzing today along with Satyam is Tech Mahindra. The latter has to cough up an extra Rs 1,200 crore if the Satyam open offer is not successful. CNBC-TV18's Varinder Bansal reports
Satyams current market price is trading well above the open offer price of about Rs 58 per share. Most people believe that the open offer will not be successful because no one will be tendering at a price, which is lower. Tech Mahindra will have to cough up about Rs 1180 crore if the open offer is not successful.
Tech Mahindra had spent Rs 1,756 crore to acquire a 31% stake in the company at a price of Rs 58 per share. If the open offer is successful, then Tech Mahindra has to pay about Rs 1,133 crore for an additional 20% stake. This means that the total amount that Tech Mahindra will spend will be around Rs 2,900 crore to acq ...more