Infosys gets SEC relief for proposed Rs 18,000 crore buyback
INFY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.4 pts more than Nifty 100 and 0.8 pts more than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Infosys has received US SEC exemptive relief for the tender process in its proposed buyback of up to 10 crore equity shares of Rs 5 each, for a maximum outlay of Rs 18,000 crore. The buyback still needs shareholder approval by special resolution through postal ballot. The record date, process and timelines will be announced later, and the buyback has not yet begun.
Likely positive for share value and earnings per share, but shareholder approval is still pending.