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| Edited By: DNA Web Team |Source: DNA Web Desk |Updated: Oct 11, 2022, 07:10 AM IST
Infosys Ltd., the second-largest provider of IT services in India, has informed stock exchanges that its board will discuss a buyback proposal at its meeting on October 13.
Pursuant to Regulation 29(1)(b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations"), the Board of the Company will consider a proposal for buyback of fully paid-up equity shares of the Company at its meeting to be held on October 13, 2022, in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended," Infosys said in a filing.
The board will finalise the company’s second-quarter results on the same day.
Under a share buyback or repurchase, a company buys back its own shares from investors. It is seen as an alternative, tax-efficient way to return money to shareholders.
Shares of Infosys closed at Rs 1,465 per unit, up 0.95 per cent, on the BSE.
Last year, the Infosys board approved an up to Rs 9,200 crore buyback plan, which commenced on June 25, 2021.
(with inputs from PTI)
