Sensex Trades Over 800 Points Lower; Dow Futures Up By 57 Points

The company will pay 21 million euros for a 70% stake, and the balance 30% over the next four years at a valuation linked to the company's financial performance. Dublin, Ireland headquartered Perigord had revenues of 19.5 million euros as of December 31, 2020, and 380 employees.Additionally, Tech Mahindra will leverage Perigord's expertise and offerings to extend capabilities towards delivering efficiency and automation levers, across sectors including consumer-packaged goods (CPG), medical devices and over the counter (OTC) products.

The acquisition is a part of Tech Mahindra's long-term growth plan to build presence across key markets in Ireland, Germany, US, and India with enhanced global delivery.

"Healthcare and Lifesciences (HLS) is a key vertical for Tech Mahindra and this acquisition will expand our footprint globally in these domains. Perigord's disruptive proprietary platform and expertise in the artwork space and life sciences industry will add significant value to our offerings and capabilities," said Vivek Agarwal, President - BFSI, HLS and Corporate Development, Tech Mahindra.We will keep you posted on more updates from this space. Stay tuned.

At the time of writing, shares of Tech Mahindra were trading up by 1.2% on the BSE.

Moving on to news from the ipo space...

Kalyan Jewellers to Launch IPO Tomorrow

Kalyan Jewellers India's Rs 11.8 billion initial public offering (IPO) will open for bidding on March 16, 2021. The IPO will close on March 18.

The company has fixed the issue price at Rs 86-87 per share and plans to raise Rs 11.8 billion at the higher end of the price band.

The bidding for anchor investors will open on March 15, 2021.

The public issue, backed by Warburg Pincus, comprises fresh issue of Rs 8 billion and an offer for sale (OFS) amounting to Rs 3.8 billion. Investors can bid for a minimum of 172 shares and in multiples of 172 shares thereafter. A total of 35% of the issue will be reserved for retail investors.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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