Infosys Buyback: Approval For Shares Worth Rs 9,200 Cr Upto Rs 1,750 Per Share Apr 15, 2021, 13:05 IST
Infosys Ltd. has announced a buyback plan with the Board approving the proposal worth Rs 9,200 crore. The company also announced the earnings for the quarter ending in March and fiscal year 2021. Infosys in a regulatory filing said that shares will be bought back via the open market route through the stock exchanges.
The buyback will be done at a price of up to Rs 1,750 per share through the open market route. The Bengaluru-based company had enhanced its capital allocation plan from FY20 and said it will return 85 per cent of free cash flow cumulatively over five years via buyback and dividends.
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Infosys buyback price fixed at Rs 1,750 apiece
IT major Infosys has announced a buyback plan. The board has approved a plan up to Rs 9,200-crore wherein the company will buy back shares from the investors. Infosys in a regulatory filing said that shares will be bought back via the open market route through the stock exchanges.
The buyback price has been fixed at a maximum price of Rs 1,750 apiece.Â
The plan is a part of Infosys capital return of Rs 15,600 crore, which also includes a final dividend of Rs 6,400 crore. The Bengaluru-based company had enhanced its capital allocation plan from FY20 and said it will return 85 per cent of free cash flow cumulatively over five years via buyback and dividends.