Tech Mahindra Announces Merger of Two Step-Down Subsidiaries
Tech Mahindra Ltd. announced on April 1, 2026, the approval of a plan to merge Tech Mahindra Costa Rica Sociedad Anonima with Allyis Technology Solutions Sociedad de Responsabilidad Limitada. Both entities are wholly owned step-down subsidiaries of Tech Mahindra.The merger, effective April 1, 2026, is subject to regulatory approvals in Costa Rica. Upon completion, Tech Mahindra Costa Rica Sociedad Anonima will cease to be a wholly owned subsidiary of Allyis Technology Solutions Sociedad de Responsabilidad Limitada, and subsequently a wholly owned step-down subsidiary of Tech Mahindra.
The rationale for the consolidation is to reduce the number of entities within the group, optimize operational costs, and minimize compliance risk. There will be no cash consideration or share exchange involved in the transaction; the Transferee Company’s investment in the Transferor Company will be cancelled.
Details about the entities involved are outlined below:
| Item | Description |
|---|---|
| Name of Entities | Tech Mahindra Costa Rica Sociedad Anonima (TM CRSA) and Allyis Technology Solutions Sociedad de Responsabilidad Limitada (Allyis TSSRL) |
| Turnover (Fiscal Year 2024-25) | TM CRSA: USD 0.31 million; Allyis TSSRL: USD 9.61 million |
| Area of Business | TM CRSA maintains and optimizes networks for telecom operators. Allyis TSSRL provides technology and digital services. |
| Related Party Transaction | Yes, the transaction is exempted under Regulation 23(5)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. |
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