The board of IT major HCL Technologies on Thursday approved the buy back of upto 3,63,63,636 equity shares of Rs 2 face value at Rs 1,100 per share for about Rs 4,000 crore. The buy-back size is "14.83 per cent and 11.59 per cent, of the fully paid-up equity share capital and free reserves (including securities premium account)", the company said in a regulatory filing at the BSE.

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On July 9, the company had informed the stock exchange that the board of directors would consider the buy back in its meeting on Thursday (July 12).

"The buy-back size (Rs 4,000 crore) does not include any expenses for the buy-back, like filing fees payable to the Securities and Exchange Board of India (SEBI), advisors` fees, public announcement publication expenses, printing and dispatch expenses, transaction costs," the filing on Thursday said.

It added: "The buy-back is proposed to be made from the shareholders of the company on a proportionate basis, through the `tender offer` route as prescribed under the SEBI (Buy Back of Securities) Regulations, 1998."

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On Thursday, share price of HCL Technologies on the BSE closed at Rs 1,005.30, higher by Rs 10.25 per 1.03 per cent from its previous close.