Infosys to buyback shares

Infosys Limited had announced a Rs 13,000 cror share buyback on August 19, a day after CEO and MD Vishal Sikka resigned.

The company would buyback upto 113.04 million shares aggregating 4.92% of the paidupequity capital via tender route at a price of Rs 1150.

Infosys said some of its promoters have communicated their intention to participate in the company’s $2 billion buyback. Infosys’ promoters own 12.75% of the company.
“In terms of the buyback regulations under the tender offer route, promoters have the option to participate in the buyback. We would like to inform you that some members of the promoter and promoter group of the company have communicated their intention to participate in the proposed buyback,“ the company said in a filing to the Bombay Stock Exchange (BSE). The company did not specify the promoters.
Infosys’ first ever buyback is second to Rs 16,000 cror share repurchase by TCS aannouncedin April this year.
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