MindTree has received its board's approval for its buyback proposal. The company is planning 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 Rs 625 a share.

The buyback offer size is Rs 2.70 billion, 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.

Shares of the company gained Rs 4.3, or 0.81%, to trade at Rs 535.50. The total volume of shares traded was 41,164 at the BSE (9.43 a.m., Thursday).