T ech Mahindra said on April 22 its open offer to buy up to 20 percent of fraud-hit Satyam Computer Services will open on June 12 and close on July 1. Tech Mahindra will offer to buy 199 mil- lion shares at 58 rupees each, the out- sourcing firm said in a newspaper adver- tisement. It said the offer included holders of Satyam's U.S.-listed shares.Tech Mahindra, 31 percent owned by Britain's BT Group, was the highest bidder for a controlling stake in Satyam at an auction last week, a deal that will see it step up to the top tier of Indian IT firms. Tech Mahindra has paid $351 million for a 31 percent stake of new equity, and a fully subscribed open offer would take its stake in Satyam to 51 percent. If the offer is not fully subscribed, it has the option of a further preferential issue from Satyam to lift its stake. In early January, Satyam's founder and chairman shocked investors by saying profits had been overstated for years, put- ting in doubt the survival of a company once ranked as India's fourth-largest soft- ware services exporter.