INFY

share price up 2% on biggest-ever buyback announcement; check size, premium

Share Price : Infosys shares gained more than 2 per cent in early trading on Friday after the IT giant announced a substantial Rs 18,000 crore share buyback program. Shares of the company rallied as much as 2.32 per cent to Rs 1,544.65 apiece on the BSE. Infosys Buyback Details At a Board of Directors meeting held on September 11, Infosys approved a proposal to buy back equity shares for a total amount of Rs 18,000 crore, payable in cash. The buyback will involve the purchase of 10 crore fully paid-up equity shares, representing up to 2.41 per cent of the company’s total paid-up equity share capital. The buyback price has been fixed at Rs 1,800 per equity share, which is a premium of approximately 19 per cent over the company’s closing price on Thursday, which was Rs 1,509.50 on the BSE.