Tech Mahindra on Thursday approved a share buyback proposal of up to ₹1,956 crore, the first by the country's fifth-largest software services exporter. The company will repurchase 2.1% of equity at ₹950 per share, a 17% premium to Wednesday's close. Technology companies like Tata Consultancy Services, Infosys, Wipro, and HCL Technologies have carried out buybacks recently.