Infosys
Mega move! Infosys' record Rs. 18,000 crore buyback opens today
Mumbai/IBNS: India's second-largest IT company Infosys' biggest-ever share buyback worth Rs. 18,000 crore opened on Thursday, media reports said.
The buyback process will run till November 26.
This is the company's second biggest buyback in its history. It was approved by the Infosys board on September 11.
The company had booked November 14 as the record date.
Only investors who held Infosys shares in their demat account as of this date are eligible to tender (sell) their shares in the buyback.
Earlier in 2022, the company had conducted a buyback worth Rs. 9,300 crore.
The buyback offer is open to all shareholders with 15 percent of them reserved for the small investors.
The IT firm will be buying back upto 10 crore shares that represents upto 2.41% of equity at Rs. 1,800 per share.
"Since the promoters and the promoter group of the Company have declared their intention to not participate in the Buyback, Equity Shares held by them have not been considered for the purposes of computing the entitlement ratio," the company had said earlier as quoted by Business Today.
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