Infosys share buyback offer to open on 30 November

Infosys share buyback offer to open on 30 November

 

Infosys stated its Rs 13,000-crore buyback offer will open on November 30 and will end on December 14.

The company had announced in August that it would repurchase shares worth up to Rs 13,000 crore.

The buyback offer comprises of a purchase of up to 113 mn equity shares aggregating up to 4.92 per cent of the paid-up equity share capital of the company.

The Board at its meeting dated August 19, 2017 passed a resolution approving the Buyback of Equity Shares of the Company and sought approval of its Shareholders, by a special resolution, through a Postal Ballot Notice dated August 25, 2017.

The Buyback is being undertaken by the Company in line with the Capital Allocation Policy of the Company approved by the Board on April 13, 2017 after taking into account the strategic and operational cash needs of the Company in the medium term.