Infosys Buyback To Open Tomorrow: Know All Details

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The buyback offer by Infosys is the first in its history spanning 36 years and is set to open tomorrow. The buyback programme of Rs. 13000 crore is open to all investors who held shares of the company as on the record date i.e November 1, 2017.

Infosys Buyback To Open Tomorrow: Know All Details

Buyback details: Through the buyback, the company aims to use its cash reserves of appx 2$ billion for buying back the shares of the company at a price of Rs. 1150, which is a good 17% over the trading price of Rs. 982.65. A total of 11.3 crore equity shares which nearly total to 4.92% of the equity capital shall be re-purchased by the company during the buyback period that remains open until December 13.

Managers of the buyback process for Infosys are JP Morgan India and Kotak Mahindra Capital.

Some of the promoters are also reported to tender their shares in the buyback programme.

The buyback is likely to strengthen the company's earnings per share and distribute the surplus cash reserves to its shareholders.

For its retail investor category who hold shares worth upto RS. 2 lakhs, the IT major has reserved Rs. 1950 crore which is 15% of the offer ssize of Rs. 13000 crore.

Story first published: Wednesday, November 29, 2017, 11:21 [IST]
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