Tech Mahindra has announced the incorporation of a new step-down subsidiary in Uganda, expanding its operational footprint in the African market as part of its strategic growth initiative. The company received intimation on December 22, 2025, at 9:11 p.m. (IST) that the certificate of incorporation had been issued by the Office of the Registrar of Companies in Uganda.

Subsidiary Structure and Ownership

The newly incorporated entity, Yabx Technologies Uganda Limited (Yabx Uganda), has been established through a multi-tier subsidiary structure. Yabx Technologies (Netherlands) B.V. holds 100% shareholding in the Uganda entity, while the Netherlands company itself is a wholly-owned subsidiary of Comviva Technologies Limited, which is a subsidiary of Tech Mahindra.

Business Objectives and Market Focus

Yabx Uganda has been incorporated with the primary objective of providing software and analytics platform services to clients in Uganda. The business model aligns with Tech Mahindra's main line of operations in the Information Technology sector. The subsidiary will specifically target banks, micro-financial institutions, and other lending organizations as its prospective client base.

Regulatory Compliance and Disclosure

Tech Mahindra has fulfilled its disclosure obligations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The incorporation does not fall within the purview of Related Party Transactions for the parent company, as confirmed in the regulatory filing.

Strategic Implications

The establishment of Yabx Uganda represents Tech Mahindra's continued expansion strategy in emerging markets. As a newly incorporated entity, Yabx Uganda has not yet commenced business operations, and therefore no turnover figures are applicable at this stage. The subsidiary's focus on software and analytics platforms positions it to serve the digital transformation needs of Uganda's financial services sector.

The incorporation strengthens Tech Mahindra's presence in the African continent through its subsidiary network, enabling the company to provide localized technology solutions while maintaining its global service delivery capabilities.

Tech Mahindra , a leading Indian IT services and consulting company, has made several significant announcements that underscore its strategic moves, commitment to sustainability, and shareholder services.

Updated ESG Rating Reflects Improved Performance

Tech Mahindra has received an updated ESG (Environmental, Social, and Governance) rating from ESG Risk Assessments and Insights Limited (ESGRisk.ai), a SEBI registered Category I Subscriber-Pays ESG Rating Provider. The company has been assigned an improved 'ESG rating 80', representing an enhancement from its previous rating of 74.

The latest ESG rating communication was received by Tech Mahindra on December 22, 2025 at 2:09 p.m. (IST). As with the previous assessment, the company did not engage ESGRisk.ai for this rating. The assessment was independently prepared and voluntarily issued by ESGRisk.ai, based on Tech Mahindra's disclosures for fiscal 2025 and other publicly available data.

Special Window for Re-lodgement of Physical Share Transfer Requests

Tech Mahindra has announced a special six-month window from July 7, 2025 to January 6, 2026 for shareholders to re-lodge transfer requests for physical shares. This facility applies specifically to transfer deeds that were lodged before April 1, 2019 and were previously rejected, returned, or not processed due to document deficiencies. Shares that are re-lodged during this period will be issued in demat mode only through a transfer-cum-demat process.

The company encourages shareholders who missed the earlier March 31, 2021 deadline to utilize this opportunity by submitting necessary documents to the registrar MUFG Intime India Private Limited. It's important to note that transfer requests submitted after January 6, 2026 will not be accepted unless SEBI grants an extension.

Guarantee Issuance for Pininfarina

Tech Mahindra has issued a guarantee on behalf of its step-down subsidiary, Pininfarina S.p.A., Italy, for a sum not exceeding €67.67 million. This guarantee supports a supply agreement between Pininfarina and Rolls-Royce Motor Cars Limited.

The transaction, approved by Tech Mahindra's Audit Committee, is classified as a related party transaction conducted on an arm's length basis in the ordinary course of business. While the guaranteed obligations will be treated as a contingent liability for Tech Mahindra, the company states that there is currently no impact from this guarantee.

These developments highlight Tech Mahindra's ongoing efforts to support its subsidiaries' business operations, maintain transparency in its ESG practices, and provide improved services to its shareholders. The improved ESG rating from 74 to 80 demonstrates the company's enhanced performance in environmental, social, and governance aspects, while the guarantee issuance shows commitment to facilitating strategic partnerships.