Infosys closes Rs 8,260-cr buyback offer, takes back 11.05 cr shares

IT major Infosys has bought back 11.05 crore of its shares under its Rs 8,260-crore buyback offer that began in March this year.

"...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 per cent of the maximum buyback size (excluding transaction costs)...till August 26," Infosys said in a regulatory filing on late Monday night.

Consequently, the buyback committee has approved the closure of the buyback with effect from August 26, 2019, prior to the expiry of six months from the commencement date, it added.

In January, Infosys had announced that it would buy back shares of the company 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 commenced on March 20, 2019.

In a regulatory filing on August 16, Infosys had said it had extinguished 76.12 lakh fully paid-up equity shares bought back from July 30, 2019 to August 6, 2019.