Satyam promoters transfer stake to holding company

Hyderabad, Sep 14: Promoters of Satyam Computer Services today announced corporatization of their shareholding in the company with Founder B Ramalinga Raju transferring the entire stake of his family members to a holding company.

The entire 8.5 per cent share capital held by Mr B Rama Raju, Mr B Ramalinga Raju, Ms B Nandini Raju and Ms B Radha Raju, in their individual capacity, had been transferred to a holding company controlled by them, a company release said here.

''This transfer was executed through a block trade over the stock exchanges. There is no change in the effective shareholding of the core promoters in Satyam Computer Services as a result of this structuring.

''This structuring has been undertaken in an effort to corporatize existing shareholding of the core promoters,'' it added.

Satyam Computer Services and its promoters will be making all requisite fillings with the stock exchanges as per exchange regulations, it said.

UNI