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Infosys Approves Buyback At A Price Of Rs. 1750/Share
In a BSE filing, the IT major has said we would like to inform you that 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 April 14, 2021, in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018.
The outcome of the Board meeting will be disseminated to the stock exchanges after conclusion of the Board meeting on April 14, 2021, in accordance with the applicable provisions of the SEBI LODR.
And the price for the buyback has been decided at a good Rs. 1750 per share for up to Rs. 9200 crore.
The company has also come up with its Q4FY21 results. The scrip of Infosys on April 13, 2021 closed at Rs. 1397.15 per share, that implies the investors can reap good gains by tendering their share in the buyback.
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