Satyam is not a sinking ship: Tech Mahindra

Posted By: Staff
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Hyderabad, Apr 21: Tech Mahindra Limited, which has won the bid for Satyam Computers in a deal worth about 580 dollars, has revealed that it would run the fraud-hit company as a standalone unit.

Tech Mahindra has said that its priority right now is to retain the existing clients and win back old clients of Satyam Computers.

"On the basis of the reactions of the customers, I don't believe this is a sinking ship. This may not be racing car yet but that is our task to make it one. But, I do believe that we are on our way to a very viable future," said Anand Mahindra, Managing Director, Tech Mahindra Limited and Chairman Mahindra and Mahindra corporate group.

On Monday, Apr 20 the company said that it had deposited $351 mn for a 31 per cent allotment of new shares and for an open offer up to 20 per cent of the company at a cost of up to $231 mn.


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