IT firm Tech Mahindra Saturday said its board will meet on February 21 to consider a share buyback proposal. However, the company did not disclose any other details of the proposal.

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"...The Board of Directors of the company at their meeting scheduled on Thursday, February 21, 2019 shall inter-alia consider a proposal to buy-back the fully paid-up equity shares of the company," Tech Mahindra said in a BSE filing.

Cash-laden Indian IT firms have been returning surplus cash on their books to shareholders by way of dividends and buybacks.

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Earlier this year, Infosys had announced a buyback offer of Rs 8,260 crore. Persistent Systems' Board had also approved a buyback offer of up to Rs 225 crore in January this year.