Infosys board approves ₹18,000 crore share buyback
Infosys, one of India’s leading IT companies, has approved a share buyback of Rs 18,000 crore at Rs 1,800 per share through the tender offer route, repurchasing nearly 2.41% of its outstanding equity. This marks the company’s fifth buyback since August 2017 and the largest so far, with plans to purchase 10 crore shares. The buyback price represents a 19.25% premium over Thursday’s closing price of Rs 1,509.50.
Following reports of the proposed buyback, Infosys shares slipped 1.51% on Thursday. Historically, the company’s stock has underperformed immediately after such announcements but recovered within three to six months, gaining 5–10%.
