Infosys shareholders approve Rs 18,000 crore share buyback at Rs 1,800 per share
INFY · price
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Infosys shareholders have approved a share buyback of Rs 18,000 crore through postal ballot with 98.81% votes in favor. Buyback price is Rs 1,800 per share, covering 10 crore shares (2.41% of paid-up capital). It will be executed through the tender offer route on Indian stock exchanges. Promoters voted 100% in favor; public institutions 99.46% and non-institutions 91.13%.
Positive for shareholders; buyback reduces share count and can lift EPS. Eligible shareholders can tender shares at Rs 1,800 through the exchange mechanism.