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The board of MindTree on Wednesday approved a buyback proposal of the company. It plans to buy back a maximum of 43.20 lakh shares (2.57 per cent of the total paid-up equity capital) at a price not exceeding ₹625 a share. The buyback offer size is ₹270 crore, which is 9.83 per cent of the total paid-up equity capital and free reserves of the company as of March 31, 2017. The buyback will be done on proportionate basis through the tender offer route.
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