New Delhi, June 17 -- Tanla Platforms share price in focus today: Tanla Platforms, India's largest CPaaS (Communications Platform as a Service) provider, saw its shares surge 7.6% to Rs.707 apiece in Tuesday's trade after the company's board of directors approved buyback proposal worth up to Rs.175 crore.

In an exchange filing on Monday, the company informed investors that the board had approved the repurchase of up to 20 lakh fully paid-up equity shares, representing approximately 1.49% of its total equity capital, at Rs.875 per share. This price represents a 33% premium over Monday's closing price of Rs.657.15 on the NSE.

The buyback represents 24.81% and 7.78% of the aggregate paid-up capital and free reserves based on the company's ...