Infosys may buy back shares worth $1.6 billion

Infosys may buy back shares worth $1.6 billion

The Infosys board is likely to consider a second share buyback worth $1.6 billion USD, in which some of the founding family members could tender their shares.

A ToI report said that the announcement could be part of the board's resolution when it convenes in January to consider the quarterly results.

The report says the buyback could happen much quicker this time as the company has delisted its American depository shares from Euronext Paris and Euronext London.

It also quotes sources who said the buyback could be conducted at a 20-25 percent premium. The share closed at Rs 654.15 on Friday.

The board says it will return roughly Rs. 2,600 crores through a special dividend of Rs. 10 per share and has identified Rs. 10,400 crores to be paid out to shareholders for FY 2019.