LIVE TV DownloadNews18 App
News18 English
Powered by cricketnext logo
»
1-min read

Infosys Completes Rs 13,000 Crore Buyback Programme

A total of 11,30,43,478 equity shares were bought back under the Buyback at a price of Rs 1,150 per equity share, the IT major said in a regulatory filing.

PTI

Updated:December 23, 2017, 4:54 PM IST
facebookTwittergoogleskypewhatsapp
Infosys Completes Rs 13,000 Crore Buyback Programme
Image for representation only.
Loading...
New Delhi: IT services major Infosys on Saturday said it has completed its Rs 13,000 crore buyback programme that saw participation from Sudha Gopalakrishnan, Rohan Murty and LIC among others.

The buyback scheme -- a first in the company's over three decade history -- commenced on November 30 and closed on December 14.

"(A total of) 11,30,43,478 equity shares were bought back under the Buyback at a price of Rs 1,150 per equity share. The total amount utilised in the Buyback is Rs 13,000 crore excluding transaction costs..." Infosys said in a regulatory filing.

The programme saw participation from Life Insurance Corporation of India, Singapore government, Sudha Gopalakrishnan (wife of co-founder S Gopalakrishnan) and Rohan Murty (son of co-founder NR Narayana Murthy's son) among others.

The filing showed that of all the equity shares tendered in the buyback, 5.41 percent were by LIC and 2.18 percent by Singapore government.

Similarly, 15 lakh shares of Sudha Gopalakrishnan and 13.92 lakh shares held by Murty were accepted under the buyback.

As of September this year, Sudha Gopalakrishnan held the largest share in individual capacity among promoters group members with 2.14 percent shareholding.

The founders and families classified as promoters group held 29.28 crore shares, or 12.75 percent, in Infosys at the end of September 2017.

After the buyback, the promoter group now holds 12.90 percent share, as per the filing.

The buyback had been a long-standing demand by some of the founders and high-profile former executives, who have been pushing Infosys to return surplus capital to shareholders.

Share buybacks typically improve earnings per share and return surplus cash to shareholders, while supporting share price during period of sluggish market condition.

Earlier this year, its larger rival Tata Consultancy Services completed a Rs 16,000-crore mega buyback offer. Other competitors like Cognizant, Wipro and Mindtree had also made similar announcements.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Sun Pharma 386.90 -9.30
Reliance 1,179.30 3.95
Jet Airways 279.65 -1.98
Yes Bank 197.60 -1.94
HUL 1,738.55 -0.74
Company Price Change %Gain
Sun Pharma 386.70 -9.47
Reliance 1,178.20 3.92
ICICI Bank 371.50 -0.50
Jet Airways 279.80 -1.76
Yes Bank 197.50 -1.96
Top Gainers
Company Price Change %Gain
Reliance 1,179.20 3.94
Wipro 344.85 2.82
Kotak Mahindra 1,240.50 1.68
ONGC 146.95 1.34
Hindalco 208.45 1.19
Company Price Change %Gain
Reliance 1,178.20 3.92
Kotak Mahindra 1,238.50 1.51
ONGC 146.80 1.17
Asian Paints 1,400.00 0.76
HCL Tech 962.25 0.78
Top Losers
Company Price Change %Gain
Sun Pharma 387.00 -9.27
Bharti Airtel 310.85 -6.38
GAIL 323.10 -2.80
Larsen 1,315.60 -2.26
HPCL 239.30 -2.01
Company Price Change %Gain
Sun Pharma 386.70 -9.47
Bharti Airtel 310.65 -6.52
Larsen 1,315.75 -2.26
Yes Bank 197.40 -2.01
Axis Bank 664.10 -1.80

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results