IT firm Tech Mahindra on Saturday said its board will meet on February 21 to consider a share buy-back proposal.
However, the company did not disclose any other details of the proposal.
“The board at their meeting scheduled on Thursday, February 21, 2019 shall consider a proposal to buy back the fully paid-up equity shares of the company,” Tech Mahindra said in a BSE filing.
Cash-laden Indian IT firms have been returning surplus cash on their books to shareholders by way of dividends and buybacks.
Earlier this year, Infosys had announced a buy-back offer of ₹8,260 crore.