Satyam to get re-listed on NYSE by FY11-12

MUMBAI, INDIA: Mahindra Satyam is hopeful to get back to normal business, with the deals coming back, and the reporting process falling in place. Following this, the company is expecting to get re-listed on New York Stock Exchange (NYSE) within this year.

On the sidelines of NASSCOM India Leadership Forum 2011 here today, C P Gurnani, CEO of Mahindra Satyam, said, “We will be doing out NYSE listing as soon as our US GAAP accounts are ready. By this year, in 2011, hopefully we should get both the processes running. Right now our focus was to make the accounts correct.  We have started reporting the quarterly results. We have two fundamental issues, one of which is merger.”

Commenting on the Tech Mahindra reorganization, he said, “IT is the most dynamic growth-oriented sector, and responding to this, every organization looks at a few changes.”

The company is getting back confidence among the clients, but according to Gurnani, what is coming to the table is small and medium deals from $10-90 million.

Commenting on the Euro crisis, he said that this crisis is real; however, there are opportunities also, and the economic situation will have a repel effect.

(Erratum: Earlier, CIOL had erroneously reported that Satyam would get re-listed on NASDAQ, instead of NYSE - Editor)