Infosys will buyback nearly 5,25,71,428 shares for about Rs.9200 Crore. In a filing to the stock exchanges, Infosys said it will buyback percent of the fully paid-up equity shares at a price of Rs.1750/- per share.
The board of directors of Infosys approved the proposal to buyback of not exceeding Lakhs equity shares of face value of Rs 5 each of the company (representing 14.85% percent of the total number of fully paid-up equity shares in the paid-up share capital of the company) at a price of Rs.1750/- per equity for an aggregate consideration not exceeding Rs 9200 crores," it said.
Infosys Buyback 2021 Offer Details:
| Buyback Type: | Open Market |
| Buyback Record Date: | NA |
| Buyback Opening Date: | June 25 2021 |
| Buyback Closing Date: | Dec 24 2021 |
| Buyback Offer Amount: | ₹ 9200 Crore |
| Date of Board Meeting approving the proposal: | Apr 14 2021 |
| Date of Public Announcement: | June 21 2021 |
| Buyback Offer Size: | 14.85% |
| Buyback Number of shares: | 5,25,71,428 |
| Price Type: | Tendor Offer |
| FV: | Rs. 5 |
| Maximum Buyback Price: | ₹ 1750 Per Equity Share |
Infosys buyback of Lakhs equity shares which is around 14.85% of all the existing number of equity shares at a price of ₹1750 per equity share. The buyback offer not exceeding of ₹9200 crore of total buyback offer size.
Infosys Buyback Important Dates
In this section we have covered all important dates related to “Infosys Buyback Date”. Dates are updated as they are announced. The most noted dates are Infosys record date and Infosys buyback open and close dates, which one should use to participate in buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Infosys Buyback proposal | 14.04.2021 |
| Infosys Buyback Approval date | 14.04.2021 |
| Public Announcement of Buyback | 21.06.2021 |
| Buyback Start Date ( Commencement Date ) | 25-06-2021 |
| Last date for the completion of the Buy-back | 24-12-2021 |
Note: If anything you want to know about the buyback offer you can refer the Infosys buyback offer documents. Click Here
How to Participate in Infosys Limited buyback?
In this method of share Buyback, the company will be purchasing stocks from existing shareholders of the company directly from the market.
Example: “Infosys Technology ” announces buyback plan of its shares up to value of Rs 1750, it means that the company will be purchasing shares of “Infosys Technology ” from the open market at a price not exceeding Rs.1750 per share.
Scenario 1- If the share price is below Rs. 1750 in that case, the company will put buy order at Current Market Price and purchase shares.
Scenario 2- If the share price is above Rs. 1750, in that case, the company will put buy order at Rs. 1750 only and if someone is ready to sell at Rs.1750 or less then only company will get back shares.
Checkout Current Infosys lLTD Shares market price on NSE and BSE: Infosys
The Infosys approved a proposal for buyback of up to Lakh fully paid-up Equity Shares of the Company of face value Rs. 5 each, being 14.85% of the total issued and paid-up equity share capital of the Company as per the audited consolidated and standalone condensed interim financial statements ("Audited Condensed Interim Financial Statements") as on 31.03.2020, for an aggregate amount not exceeding Rs. 9200 Cr, which is not exceeding 25% of the aggregate of the total issued and paid-up equity share capital and free reserves as per the Audited Condensed Interim Financial Statements of the Company as at and for the period as on 31.03.2020 at Rs. 1750 per share via " Tender Route".
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About Infosys :
Infosys established in 1981, Infosys is a NYSE listed global consulting and IT services company with more than 250k employees. From a capital of US$250, we have grown to become a US$13.56 billion (Q4 FY21 revenues) company with a market capitalization of approximately US$79.74 billion.
In our journey of 40 years, we have catalyzed some of the major changes that have led to India's emergence as the global destination for software services talent. We pioneered the Global Delivery Model and became the first IT Company from India to be listed on NASDAQ. Our employee stock options program created some of India's first salaried millionaires.
Infosys Limited is an Indian multinational company. The company provides business consulting, It and outsourcing services. The company has their headquarter in Bangaluru, India. Infosys is India's second largest IT company with more than 2 lakh employees. They have market capitalization around US$ 44.4 billion. Infosys is a global leader in next-generation digital services and consulting. We enable clients in 46 countries to navigate their digital transformation.
With nearly four decades of experience in managing the systems and workings of global enterprises, they expertly steer our clients through their digital journey. They do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. They also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Their always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from their innovation ecosystem.
NECESSITY OF BUYBACK By Infosys
2.1 The Buyback is being proposed by the Company to service the equity more efficiently. Additionally, the Company’s management strives to increase equity shareholders value and the Buyback would result in amongst other things
:a) The Buyback is being done to return surplus funds, after taking into account the strategic and operational cash needs of the Company in the short to medium term
b) The Buyback may help in improving earnings per share, return on equity, by reduction in the equity base, thereby leading to long term increase in shareholders’ value;
c) The Buyback gives an option to the equity shareholders, who can either
(i) choose to participate and get cash in lieu of Equity Shares to be accepted under the Buyback; or
(ii) choose to not participate and enjoy a resultant increase in their percentage shareholding, post the Buyback, without additional investment;
d) The Buyback, which is being implemented through the Tender Offer as prescribed under the Buyback Regulations, shall be from its existing securities holders on a proportionate basis in accordance with the provisions of Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018: provided that fifteen percent of the number of securities which the Company proposes to Buyback or number of securities entitled as per their shareholding, whichever is higher, shall be reserved for small shareholders.
Company Contact Information
Infosys Ltd
No. 44, Hosur Road,
Electronics City,
City: Bengaluru
State: Karnataka
Pincode: 560100
Email ID: investors@infosys.com
Web Url: http://www.infosys.com
Infosys Buyback Registrar
KFin Technologies Private LimitedSelenium Tower B, Plot 31 & 32,Financial District, Nanakramguda,Serilingampally Mandal, Hyderabad 500 032Contact Person : M. Murali KrishnaPhone : 1- 800-309-4001Email : einward.ris@kfintech.comSEBI Registration : INR000000221Validity period : Permanent Registration
Infosys Buyback 2021 FAQs:
When is Infosys Record Date?
Infosys buyback 2021 record date is -Apr-2021.
What is Infosys Buyback Opening Date?
Infosys buyback 2021 Opening date is 25-June-2021.
What is Infosys Buyback Closing Date?
Infosys buyback 2021 Closing date is 24-Dec-2021.
When is Infosys Buyback announcement Date?
Infosys buyback 2021 announcement Date is 21 June 2021.
What is Infosys Buyback Price?
The company has fixed the maximum price of ₹1750
How to apply for Infosys Buyback 2021?
As per the record date you need to have Infosys shares in your demat account. You can participate in buyback after having the stock in your account.
