Infosys Board Approves ₹180 Billion Share Buyback at ₹1,800 Per Share

Infosys Ltd. late Thursday said its board has approved a buyback of up to 100 million shares, representing 2.41% of its equity capital, at ₹1,800 per share. The company will spend up to ₹180 billion on the buyback, which will be carried out through the tender offer route, it said in a filing.

The buyback will be made to all equity shareholders as on the record date on a proportionate basis. Infosys has appointed A.G.S. Manikantha, company secretary, as the compliance officer for the process.

The offer is subject to shareholder approval via a special resolution through postal ballot with remote e-voting, along with other statutory clearances.