INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The board of IT major Tech Mahindra on Thursday approved a share buyback proposal of up to 2.06 crore shares at a price of Rs
950, not exceeding Rs 1,956 crore
Tech Mahindra said that the offer comprises 2.10 per cent of the total paid-up equity capital of the company
The technology company has set March 6 as the record date.
Sameer Kalra, Target Investing, said "Tech Mahindra share buyback is positive for
investors as it provides them cash back in a tax efficient manner and price of buyback is a big positive which is 15% premium over yesterday
their books to shareholders by way of dividends and buybacks
Infosys had announced a buyback offer of Rs 8,260 crore
Persistent Systems board had also approved a buyback offer of up to Rs 225 crore in January this year.
