Infosys is launching its biggest-ever share buyback worth ₹18,000 crore. The company will start buying back its shares from November 20, and the window will stay open till November 26.
Infosys will buy up to 10 crore shares at a fixed price of ₹1,800 per share. This is higher than the current market price, so some investors may choose to sell their shares back to the company.
Shareholders who held Infosys shares on the record date, November 14, are eligible to take part. Small shareholders (those holding shares worth up to ₹2 lakh) have a separate reserved quota.
To participate, investors must tender their shares through their broker on NSE or BSE. Those holding physical share certificates must send the required documents to the registrar, KFin Technologies, before the deadline.
Infosys says the buyback is part of its plan to return extra cash to shareholders. Promoters, including Nandan Nilekani and Sudha Murty, will not sell their shares in this buyback.
The company will complete payments to those whose shares are accepted by December 3.
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