New Delhi, Feb. 18 -- Tech Mahindra share price gained over a percent on Tuesday after the company announced a plan of merger between its two US-based subsidiaries. Tech Mahindra shares rose as much as 1.67% to Rs.1,692.70 apiece on the BSE.

The IT major Tech Mahindra said that a plan of merger of Tech Mahindra Cerium Systems Inc., its wholly-owned subsidiary, with Tech Mahindra (Americas) Inc., its wholly-owned material subsidiary, has been approved by the Board of Directors of the respective companies on February 17, 2025.

The merger is subject to regulatory approvals in the country of incorporation. The appointed date of merger is February 20, 2025, Tech Mahindra said in a regulatory filing.

"The consolidation of these entities will...