Tech Mahindra Ltd has informed that the Board of Directors of the Company at its meeting held on October 19, 2007, inter alia, has taken the following decisions:
1. Approved merger of wholly owned subsidiaries, Tech Mahindra (R&D Services) Ltd and iPolicy Networks Ltd, with Tech Mahindra Ltd.
2. The Board has issued and allotted a total of 3,580 equity shares of Rs 10/- of the Company, on exercise of stock options as under:
- 1,670 equity shares, on exercise of stock options under Employee Stock Option Plan
2000 (ESOP 2000)
- 1,910 equity shares, on exercise of stock options under Employee Stock Option Plan2006 (ESOP 2006).
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