Infosys share buyback of Rs 9200 crore will start from June 25, know how much will be the price of 1 share

New Delhi. The share buyback plan of Infosys, the country’s second largest software company, is starting from June 25, 2021. The company will buy shares worth Rs 9,200 crore in it at a maximum price of Rs 1,750 per share. The approval for the share buyback has been received from the board and shareholders of the company. Infosys has given information through advertisements in newspapers for buyback of equity shares of the company from the open market through the stock exchange. Kotak Mahindra Capital has been appointed as the manager for the share buyback.

The company has stated that if the shares are purchased at a price less than the maximum buyback price, the actual number of equity shares to be buybacked may exceed the maximum buyback shares. However, this will be subject to the maximum buyback size. Funds for buyback will be arranged from the reserves with the company. The Infosys board had suggested a capital return of Rs 15,600 crore in April 2021. This included a final dividend of Rs 6,400 crore and buyback of shares worth Rs 9,200 crore from the open market. Let us inform that in the March 2021 quarter, the company’s net profit increased by 17.5 percent to Rs 5,076 crore.

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