Infosys set for record 18,000 crore buyback after 20% fall in year

BENGALURU: The Infosys board approved a Rs 18,000 crore share buyback on Thursday, the largest in the company’s history and marking its fifth buyback since 2017. The buyback, to be conducted through the tender offer route, will be at a price of Rs 1,800 per share in cash, involving the purchase of 10 crore equity shares with a face value of Rs 5 each. This represents about 2.4% of the company’s total paid-up equity capital.

The board has also set up a buyback committee comprising the chief financial officer, the chief legal officer, the chief compliance officer, and the company secretary. The record date for identifying eligible shareholders will be announced later.