Infosys on Friday announced that its share buyback offer will open on November 30, and close on December 14. The buyback offer will comprise a purchase of up to 11,30,43,478 equity shares, aggregating to 4.92% of the paid-up equity share capital of the company at a price of Rs 1,150 per equity share for an amount not exceeding Rs 13,000 crore.
The buyback offer, which will be executed through the share tender route on a proportionate basis, is open to all shareholders and it will also see the participation of its co-founders, who are categorised under the promoters' category. The promoters currently hold 12.75% stake in the company.
Infosys' liquid assets including cash and cash equivalents and investments stood at Rs 41,392 crore as on September 30, 2017.
Last date of receipt of completed tender forms and other specified documents including physical share certificates by the RTA is December 18, 2017, while the last date of settlement of bids on the stock exchange is December 26, 2017. The last date of extinguishment of equity shares is January 2, 2018, the company said in a BSE filing.
Infosys shares closed 1.79% lower at Rs 970.95 per share on Friday on Bombay Stock Exchange.