Infosys had announced that it will be repurchasing shares worth ₹18,000 crore, its fifth and largest buyback as a public company.
The buyback will be carried out at a tender offer route, which means that the shares will be repurchased at a fixed price from eligible shareholders.
Promoters of Infosys have already clarified that they will not be participating in the share buyback, increasing the potential for a better acceptance ratio for retail investors.
This also means that those who have shares of Infosys as of closing on Friday, November 14, will be eligible to participate in the share buyback.
Infosys' buyback price of ₹1,800 per share is a 23% premium to Thursday's closing price for the stock. Other details of the buyback are yet to be disclosed, including the date, acceptance ratio, among others.
Shares of Infosys ended little changed on Thursday at ₹1,466.5. The stock has remained flat in the last one month, and has declined 22% so far this year.
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