BSE and NSE have given approval for the merger of Mahindra Engineering Services (MES) with Tech Mahindra. The exchanges have granted ‘no-objection approval’ to the proposed scheme, while this observation letter would be valid for six months, within which period the company would have to file the scheme with the High Court for further clearance.
The boards of Tech Mahindra and MES had approved the proposal in November last year.
Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra. The company, since 2002 has operations in China with offices in Beijing, Shanghai, Nanjing and Guangzhou.
