tech mahindra

The merger, valued at about $1.2 billion, will make the combined entity the fifth largest IT services company in India.

The $147 million block trade, which was anchored by one large buyer, comes just over one month after the US telecom operator bought an 8.07% stake in Tech Mahindra through the exercise of share options.

The telecom outsourcing company of the Mahindra group will pay around $580 million to acquire 51% of Satyam Computer, ending the saga of India's biggest corporate fraud.