The Board approval for the buyback was granted on April 14, 2021, and the shareholders' nod was received on June 19, 2021, at the company's 40th annual general meeting.

The Bengaluru-based company has issued a public notice on Wednesday in various newspapers for the buyback of its equity shares from the open market through the stock exchange route.

Kotak Mahindra Capital Company Ltd was appointed as the manager of the buyback, a regulatory filing said.

As per the proposed timeline, the date of commencement of the buyback has been set for June 25, 2021, and the last date for the buyback (whichever is earlier) would be December 24, 2021 (6 months from the date of the opening of the buyback) or when the company completes the buyback by deploying the amount equivalent to the maximum buyback size.

''Subject to the market price of the equity shares being equal to the maximum buyback price, the indicative maximum number of equity shares bought back would be 5,25,71,428 equity shares, comprising approximately 1.23 percent of the paid-up equity share capital of the company as of March 31, 2021,'' the advertisement showed.

If the equity shares are bought back at a price below the maximum buyback price, the actual number of equity shares bought back could exceed the maximum buyback shares, but will always be subject to the maximum buyback size, it added.

Also, Infosys will utilize at least 50 percent of the amount earmarked as the maximum buyback size for the buyback i.e. Rs 4,600 crore. Based on the minimum buyback size and the maximum buyback price, the company will purchase an indicative minimum of 2,62,85,714 equity shares.

The funds for the implementation of the buyback will be sourced out of the free reserves of the company or such other source, as may be permitted by the Buyback Regulations or the Companies Act, it noted.

''In terms of Regulation 16(ii) of the Buyback Regulations, the buyback is being implemented by way of open market purchases through the Indian stock exchanges and is not extended to the promoters, promoter group, and persons in control of the company,'' it added.

From FY20, Infosys had enhanced its capital allocation plan and had said it will return 85 percent of free cash flow cumulatively over a five-year period via buyback and dividends.

In April, Infosys Board had recommended a capital return of Rs 15,600 crore, including a final dividend of Rs 6,400 crore and open market buyback of shares of Rs 9,200 crore.

As per the disclosure of voting results of the AGM on June 19, the proposal for the buyback offer received 98.83 percent votes in favor of the proposal and 1.17 percent against it. Shares of Infosys had closed at Rs 1,502.85 apiece on Wednesday, down marginally from its previous close on BSE. In August 2019, Infosys had bought back 11.05 crore of shares under its Rs 8,260-crore buyback offer. It had completed its maiden buyback of Rs 13,000 crore in December 2017, comprising 11.3 crore equity shares at Rs 1,150 per share.