IT research and development firm, MindTree Limited has bought 6.6 crore equity shares of outsourcing product development firm, Aztecsoft Ltd, at a price of Rs 79.93 per share from the open market as part of the open offer.

This represents 14.67 per cent of total paid-up capital of Aztecsoft Ltd and the total gross value of the purchase is about Rs 52.7crore.

MindTree also announced an open offer to Aztecsoft's public shareholders to purchase up to an additional 20% equity ownership interest. The offer would remain open from June 30 till July 21.

Earlier in May 2, MindTree had entered into a definitive agreement with the largest shareholder of Aztecsoft to acquire 32.57 per cent at Rs 80 per share.

MindTree plans to merge Aztecsoft into itself, subject to customary regulatory filings, clearances and approvals.