Infosys closes Rs 8,260 crore buyback offer, gets 11 cr shares

Information technology major major Infosys has said that the company under its buy back programme has bought back 11.05 crore shares. 

The software behemoth had earmarked Rs 8,260 crore buyback offer plan which began in March.

In January, the company had announced that it will buy back shares for an amount aggregating up to Rs 8,260 crore (maximum buyback size) at a price not exceeding Rs 800 per equity share. The buyback started on March 20.

“The company bought back 11,05,19,266 equity shares at an average price of Rs 747.38 per equity share and deployed an amount of Rs 82,59,99,99,430.03 deploying 99.999999% of the maximum buyback size (excluding transaction costs) till August 26,” Infosys said in a regulatory filing.

Consequently, the buyback committee has approved the closure of the buyback with effect from August 26 prior to the expiry of six months from the commencement date, it added. 

On Tuesday, Infosys shares fell over 2% on BSE, even as Sensex extended gains.