Infosys board clears Rs 13,000-crore share buyback at Rs 1,150 apiece

The offer size for the Rs 13,000-crore buyback plan is 20.51% of total paid-up equity capital

Infosys on Saturday announced that it would buy back shares of up to Rs 13,000 crore, or 4.92 per cent, from investors at Rs 1,150 per share. The buyback price is a 24.5 per cent premium over Friday’s closing price of Rs 923.

The stock closed at Rs 976.8 on Wednesday. On Friday, with Chief Executive Officer Vishal Sikka announcing his decision to quit, the share value plunged 9.6 per cent.

“The buyback offer size is 20.51 per cent of the total paid-up equity capital... The buyback offer will comprise a purchase of up to about 113 million equity shares,