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.
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.