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Mindtree board defers decision on buyback of shares

IANS  |  Bengaluru 

IT services firm Mindtree's board on Wednesday deferred its decision on the proposed of shares to a later unspecified date.

"The board considered the proposed of equity shares of the company at its meeting. Following detailed discussions, the meeting has been adjourned to a future date," the city-based company said in a BSE filing.

"No decision has been taken in relation to the proposed of equity shares," the firm said.

The details of when the next board meeting will be held were not disclosed.

The board meeting on Wednesday came in the backdrop of diversified conglomerate Larsen and Toubro Ltd's (L&T) bid to take it over.

The L&T on Monday bought a 20.4 per cent stake in from founder for about Rs 3,300 crore.

The company had said it would also buy additional stake in through an open offer.

--IANS

bha/pg/bg

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 20 2019. 18:54 IST
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