The highest price at which equity shares were bought back was Rs 1,750, while the lowest price was Rs 1,538.10 per equity share.
IT services major Infosys on Monday said it has bought back over 5.58 crore equity shares under a buyback offer of around Rs 9,200 crore.
As per the public notice, the shares were bought back at a volume-weighted average price of Rs 1,648.53 per equity share. “The company bought back a total of 5,58,07,337 equity shares (1.31 per cent of the company’s pre-buyback paid-up equity share capital) and the total amount utilized for the buyback is Rs 9199,99,99,599.80 (excluding transaction cost) ),” it said.
The highest price at which equity shares were bought back was Rs 1,750, while the lowest price was Rs 1,538.10 per equity share.
“The equity shares were bought back at a volume-weighted average price of Rs 1,648.53 per equity share. The company has liquidated all equity shares purchased under buyback,” the notice said.
Post the buyback, the promoter’s stake has increased from 12.95 per cent to 13.12 per cent. The Infosys board had approved the buyback plan of up to Rs 9,200 crore, which started on June 25. The IT major had proposed to buy back the shares through the Indian stock exchanges through the open market at a maximum price of Rs 1,750. Offer closes on September 8, 2021.
From 2019-20, Infosys had enhanced its capital allocation plan and said it would return 85 per cent of free cash flow cumulatively over a five-year period through buybacks and dividends.
The Infosys board had in April recommended a capital return of Rs 15,600 crore, which includes a final dividend of Rs 6,400 crore and open market buyback of shares worth Rs 9,200 crore.
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