Tags: New Delhi , Satyam Computer , Tech Mahindra

New Delhi: Tech Mahindra, the new owner of Satyam, has advised the crisis-hit IT firm's shareholders to wait till June 22, the last date for revising the offer price, before tendering their shares.

The open offer for acquiring 20 per cent equity in Satyam at Rs 58 a share is set to commence on June 12 and would end on July 1.

While market regulator SEBI has ruled that the open offer price cannot go below Rs 58 per share, the acquirer, in its public announcement, has said that it can raise the offer price by June 22.

"As the offer price cannot be revised during seven working days prior to the closure of the offer, it would, therefore, be in the interest of shareholders to wait until the commencement of that period to know the final offer price ...," Tech Mahindra said in a statement.

Tech Mahindra, which won the bid to acquire Satyam Computer Services, has made a public announcement to acquire 20 per cent of the IT company through its wholly-owned subsidiary Venturbay Consultants, a move that is aimed at increasing the new owners' stake to 51 per cent.

Earlier, while exempting Satyam from following various provisions of the Takeover Regulations, the Securities and Exchange Board of India (SEBI) said that the public offer price would not be less than the price paid by the successful bidder.

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