"Following detailed discussions in its meeting on March 20, the Board adjourned meeting to a future date. No decision has been taken in relation to the proposed buyback of equity shares," the company said in a press note after markets hours to exchanges on Wednesday.
"The adjourned Board Meeting is scheduled to be held on Tuesday, March 26, 2019," the company said in a press note on Thursday.
Mindtree founders were considering the share buyback to prevent any hostile takeover of the company. Since L&T has already announced the open offer, Securities and Exchange Board of India (Sebi) regulations preclude Mindtree from buying back its shares now.
On Monday, L&T acquired 20.32% stake in Mindtree for Rs3,269cr from the Cafe Coffee day founder VG Siddhartha.