Infosys has approved a buyback proposal at Rs 1,150 per share. The stock has a face value of Rs 5 per share.
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The record date for the buyback will be announced later. The board of the company approved buyback for an amount not exceeding Rs 13,000 crore.
The buyback offer size is 20.51% of the total paid-up equity capital and free reserves of the company as per the latest audited balance sheet as on June 30, 2017. The buyback offer will comprise a purchase of up to 113,043,478 equity shares aggregating up to 4.92% of the paid-up equity share capital of the company.
Buyback price of Rs 1,150 per share represents a premium of 19.08% and 18.7% over the volume weighted average market price of the equity shares on BSE and NSE respectively, during the three months preceding the date of intimation to the stock exchanges of the board meeting to consider the proposal of the buyback. The buyback price also represents a premium of 24.58% and 24.55% as per the closing price of the stock on BSE and NSE respectively in Friday’s trading session.
Infosys ADR had closed at USD 14.79 down by 7.16% in Friday’s trading session. The stock also witnessed selling pressure on the Indian bourses. It closed lower by 9.56% at Rs 923.25 per share on NSE in Friday’s trading session.
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The record date for the buyback will be announced later. The board of the company approved buyback for an amount not exceeding Rs 13,000 crore.
The buyback offer size is 20.51% of the total paid-up equity capital and free reserves of the company as per the latest audited balance sheet as on June 30, 2017. The buyback offer will comprise a purchase of up to 113,043,478 equity shares aggregating up to 4.92% of the paid-up equity share capital of the company.
Buyback price of Rs 1,150 per share represents a premium of 19.08% and 18.7% over the volume weighted average market price of the equity shares on BSE and NSE respectively, during the three months preceding the date of intimation to the stock exchanges of the board meeting to consider the proposal of the buyback. The buyback price also represents a premium of 24.58% and 24.55% as per the closing price of the stock on BSE and NSE respectively in Friday’s trading session.
Infosys ADR had closed at USD 14.79 down by 7.16% in Friday’s trading session. The stock also witnessed selling pressure on the Indian bourses. It closed lower by 9.56% at Rs 923.25 per share on NSE in Friday’s trading session.
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