R Systems International, one of the leading providers of outsourced product development along with technical and consumer support services, announced that the board of directors approved proposal for buy-back of the equity shares of the company under first proviso to clause (b) of sub-section (2) of Section 68 of the Companies Act, 2013 for total consideration amount for Buy-back shall not exceed Rs. 600 lakhs. The total number of shares for Buy-back shall not exceed 9,500,000 equity shares and the Buy-back price per equity share shall not exceed Rs 100 equity share.

The board also approved resignation of Vikash Kumar Tiwari as the company secretary and compliance officer of the company effective Dec. 20, 2014.

Also the company's board of director approved the appointment of Ashish Thakur as the Company Secretary and Compliance Officer of the Company effective Dec. 20, 2014.

Shares of the company gained Rs 14.35, or 17.53%, to trade at Rs 96.20. The total volume of shares traded was 419,985 at the BSE (1.43 p.m., Monday).