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On Saturday, Infosys which is India’s second largest IT firm, has announced a Rs 13,000 crore share buyback.
Infosys has said in a BSE filing that the company would buy back up to 11,30,43,478 crore shares aggregating up to 4.92 percent of the paid-up equity capital via tender route at a price of Rs 1,150.
The overall buyback offer size is 20.51 percent of the total paid-up equity capital and free reserves of the company.
The buyback price has been set at 25 percent premium over Friday’s closing of Rs 923.10 on BSE.
