Tech Mahindra Ltd.

Tech Mahindra has acquired additional 22.14% stake in Comviva Technologies (CTL) from Bharti Group for Rs 226.9 crore. Post this, the company will hold 99.17 percent stake in CTL.

Besides, the company is in the process of buying another 9.93% stake in CTL from Westbridge Ventures II Investment Holdings for a consideration of Rs 101.75 crore in cash.

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.