 "Tech Mahindra")
IT services company Tech Mahindra has received an approval from its board to conduct its first ever buyback of shares worth up to Rs 1,956 crore at Rs 950 apiece. The buyback price being offered by the company is at 15.8 per cent premium to Thursday’s closing price on the BSE.
In an exchange filing, the IT major said it would buy back 20 million shares under this plan, which is 2.10 per cent of its total paid-up capital base.
“The board met this morning and announced the buyback. Rewarding investors is always a key goal,” Anand Mahindra, chairman, Tech Mahindra, tweeted
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