India’s second largest IT services company Infosys has fixed November 14 as the record date for its Rs 18,000 crore share buyback. The buyback proposal was approved by the shareholders with overwhelming majority of 98.81%.
This is the company’s second such proposal since 2022 and the biggest in its history. Its board had approved the proposal on September 11. Prior to this, Infosys had conducted a Rs 9,300 crore buyback in 2022.
The buyback will comprise 10 crore shares at Rs 1,800 apiece, accounting for 2.41% of the company’s paid-up share capital.
More to come…