Tech Mahindra: Buyback opens on Monday

The ₹1,956-crore buyback offer of Tech Mahindra will open for subscription on Monday and close on April 5. The tech major plans to buy back 2.058 crore shares at ₹950 a share. Since the offer is through the tender process on proportionate basis, shareholders whose names had appeared on the company’s books as of March 6 can only participate in the buyback. Shares of Tech Mahindra will remain in focus, as they are currently ruling around ₹790.