TCS had bought back about Rs 16,000 crore of shares last year as well.
Mehta will also be awarded $9 million in restricted stock units that will vest in 12 successive equal quarterly instalments beginning August 1 and ending May 1 2021.
Last month, ET had reported that Elliott Management had exited the company, after pushing the Teaneck, New Jersey-headquartered IT player to make changes to its business.
Conduent has more than 12,000 employees in India, an additional 8,500 in the Phillipines and 700 in Malaysia.
In January, TCS had announced a $690 million deal with the insurer to move the administration of 4 million customer policies to the IT company.
Chairman Ajit Isaac says plan is to boost profitability targeting new segments and geographies.
In March, the IT company said it planned to voluntarily delist its ADSs from those exchanges.
With newer technologies coming in, and large deals no longer the norm, Indian IT companies are fighting tooth-and-nail for access to innovative companies.
The benefits of agile come also from what you don’t have to do as much as from what you do, says Krishnan Ramanujam.
The Indian IT major, headed by Salil Parekh, has recruited 4,000 US locals so far and has plans to take the overall hiring count to 10,000 by 2021.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon