How many share buybacks has Infosys done so far?

IT bellwether , which would be considering a share buyback proposal on October 13, has so far made only three buybacks.

The first share buyback or share repurchase of Rs 13,000 crore was announced in December 2017 through the tender offer route. For the offer, the buyback price was kept at Rs 1,150 per share.

Subsequently, the cash-rich IT company announced Rs 8,260 crore share buyback in 2019 through the open market route. The buyback price for the same was fixed at Rs 747.38 apiece.

Last, the company announced to buyback shares worth Rs 9,200 crore through the open market route at a price of Rs 1648.53.

As of June end, Infosys’ cash and equivalents stood at Rs 13,982 crore.

Share buyback is corporate action wherein a company buys its own outstanding shares to reduce the number of shares available in the open market.

A share buyback signals to investors that the business has enough cash on its books for emergencies and there remains a low probability of economic exigencies.

Ahead of the share buyback consideration, shares of Infosys traded with a cut of over 1% at Rs 1441.8 per share.