New Delhi, Dec 16 (PTI) IT company Tech Mahindra will sell its entire stake in its the Netherlands-based subsidiary Dynacommerce Holdings BV to its step-down subsidiary Comviva Netherlands for about Rs 58 crore, the company said in a regulatory filing.

The agreement for the deal is expected to be signed during the first week of January 2023 and the transaction is expected to complete around the same time.

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"We wish to inform you that the Company has approved the sale of 100 per cent stake in Dynacommerce Holdings BV, a wholly-owned subsidiary of the Company to Comviva Netherlands BV, a step-down subsidiary of the Company," Tech Mahindra said in the filing.

Tech Mahindra will get 6.6 million euro or about Rs 58 crore from the deal, according to the filing.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)