Infosys, the country's number two software service provider, has announced a buyback share of Rs 13,000 crore for its investors on Saturday. Interestingly, the company has announced this just a day after the resignation of CEO Vishal Sikka. The company has given this information to the BSE.
It is worth mentioning that in April this year, the company had told that it will pay up to 1300 crores through dividend or share repurchase (buyback) to shareholders in the financial year 2018. It was further stated that the method of payout will be decided later by the board.
Information given to BSE: The information given to Infosys on behalf of BSE has stated that the company will buy back 11,30,43,478 crore shares, which is equivalent to 4.92 percent of the paid up equity capital, through the tender route. Overall, Buyback offer size is equal to 20.51 percent of the company's total paid-up equity capital and free reserve.
It is worth mentioning that in April this year, the company had told that it will pay up to 1300 crores through dividend or share repurchase (buyback) to shareholders in the financial year 2018. It was further stated that the method of payout will be decided later by the board.
Information given to BSE: The information given to Infosys on behalf of BSE has stated that the company will buy back 11,30,43,478 crore shares, which is equivalent to 4.92 percent of the paid up equity capital, through the tender route. Overall, Buyback offer size is equal to 20.51 percent of the company's total paid-up equity capital and free reserve.
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