It has fixed March 6 as a record date for the share buyback.
Shares of Tech Mahindra touched 52-week high of Rs 831.80, rising 2.4 percent intraday Thursday after company approved buyback of its equity shares.
The company board at its meeting held on February 21, approved the proposal for buyback of its own fully paid equity shares of Rs 5 each not exceeding 2,05,85,000 equity shares from the equity shareholders of the company.
The board has fixed buyback prices at Rs 95 per equity share for an aggregate amount not exceeding Rs 1,956 crore through the tender offer route.
It has fixed March 6 as a record date for the share buyback.
At 10:53 hrs Tech Mahindra was quoting at Rs 825.80, up Rs 14.05, or 1.73 percent on the BSE.
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