Market valuation of four of top 10 most valued firms erode by Rs 96,605.66 crore
The combined market valuation of four of the top10 most valued firms eroded by Rs 96,605.66 crore last week.
Global software major Infosys Ltd on Saturday announced it buy back 11.3 crore shares of Rs 5 face value at Rs 1,150 per share via a tender offer.
“The Board has approved a proposal to buy back 11.3 crore equity shares of Rs 5 face value from the shareholders at a price of Rs 1,150 per share for an amount not exceeding Rs 13,000 crore,” said the IT major in a regulatory filing on the BSE.
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The offer size is 20.51 per cent of the total paid-up capital and free reserves, aggregating up to 11.3 crore shares or 4.92 per cent of the equity shares.
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