Infosys buyback 2022 announced: IT giant approves Rs 9300 crore programme - check price

Infosys Q2 results: IT-giant Infosys board of directors has approved a buyback of Rs 9300 crore, while it announced its quarterly results today.  

The Board has approved a proposal for the Company to buyback its own fully paid-up equity shares of face value of Rs 5 each (“Equity Shares”) from the equity shareholders of the Company (other than the promoters, the promoters group and persons in control of the Company).

Last year, Infosys had launched a share buyback plan worth ₹9,200 crore. The buyback commenced on June 25 and closed on September 14 of 2021.

“The announced amount of the buyback  is less than 15% of the aggregate of the total paid-up share capital and free reserves of the Company, based on the latest audited financial statements of the Company as at September 30, 2022, for a price not exceeding Rs 1,850/- (Rupees One Thousand Eight Hundred and Fifty only) per Equity Share ("Maximum Buyback Price"),” the company mentioned in its filings to the exchange.