Infosys board has approved share buyback worth Rs 9,200 crore at maximum 1,750 per share. It will buyback 5.35 crore shares or 1.23 per cent of total paid-up capital. The Infosys buyback price of Rs 1,750 per share is a 25.2 per cent premium to Tuesday’s closing price.
On Sunday, IT services major Infosys had said its board will consider a buyback proposal at its meeting on April 14. In August 2019, Infosys had bought back 11.05 crore of its shares under its Rs 8,260-crore buyback offer. Infosys had completed its maiden buyback of Rs 13,000 crore in December 2017, comprising 11.3 crore equity shares at a price of Rs 1,150 per share.
Infosys is a global leader in next-generation digital services and consulting. It enables clients in 46 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, Infosys expertly steers our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change.