Tech Mahindra Share Price in Focus: Its Arm to Acquire 85% Stake in Alluri Technologies

Tech Mahindra share price is expected to remain in focus after the company announced a strategic acquisition aimed at strengthening its presence in the banking, financial services, and insurance (BFSI) segment. 

Acquisition Of Canada-Based Avant 

Tech Mahindra, through its wholly owned subsidiary Tech Mahindra Consulting Group Inc., has entered into a share purchase agreement to acquire Alluri Technologies Inc. (Avant), a Canada-based firm.  

The acquisition will be executed in phases, with the company initially acquiring an 85% stake, followed by the remaining 15% over time. 

Deal Structure and Financial Details 

The company will acquire 85% equity stake in Avant for a consideration of CAD 28 million, subject to adjustments.  

The remaining 15% stake will be acquired over the next 3 years based on a pre-agreed pricing formula, leading to full ownership. 

Business Profile of Avant 

Avant operates in the IT services space with a focus on payments modernisation and wealth management platforms for North American financial institutions. 

The company reported a turnover of CAD 58.64 million (₹406.96 crore) in CY2025 and has a workforce of over 240 professionals. 

Its capabilities include real-time payments infrastructure, ISO 20022 migration, cloud-based core transformation, and identity management solutions. 

Strategic Rationale 

The acquisition is aimed at strengthening Tech Mahindra’s capabilities in the BFSI vertical by adding specialised expertise and expanding its service offerings in high-growth areas such as digital payments, wealth platforms, and AI-led financial solutions.  

The deal also brings in established client relationships and domain talent, which is expected to enhance delivery capabilities and scalability in key markets. 

Management Commentary 

As per exchnage filings, Roshan Shetty, BFSI and Public Sector Head: Americas, Tech Mahindra, said: “The acquisition of Avant will strengthen our ability to serve financial institutions… helping clients modernize core payment and wealth systems and respond faster to evolving demands.”  

The first phase of the acquisition (85% stake) is expected to be completed by July 31, 2026, while full ownership is targeted by June 30, 2029.  

Read More: Tech Mahindra Share Price in Focus After NVIDIA Partnership to Launch Education Focused AI Model Under Project Indus! 

Tech Mahindra Share Price Performance 

As of 30 April 2026, at 3:30 PM, Tech Mahindra share price closed at ₹1,473.50 per share, reflecting a surge of 0.94% from the previous closing price. 

Conclusion 

The Avant acquisition strengthens Tech Mahindra’s BFSI capabilities and positions the company to benefit from increasing digital transformation demand in global financial services. 

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