How many shares Infosys will buyback?
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The company will utilise at least 50 per cent of the amount earmarked as the maximum buyback size for the buyback i.e. Rs 4,600 crore. Based on the minimum buyback size and the maximum buyback price, the company will purchase an indicative minimum of 26.29 million equity shares.
The last date for tendering of shares for buyback is disclosed by the company in the notice. The shareholders need to submit their tender request by this date. This can be done by filling up a physical buyback form and mentioning the number of shares to be tendered for buyback and the price for buyback.
What percentage of shares can a company buy back?
Later in January 2018, the company’s board approved the buyback of up to 275,000 fully paid-up equity shares, representing up to 1.15\% of the total number of equity shares.
How can I get Infosys buyback offer?
how do I participate in it? You can place a Bid for a minimum of 1 share to a maximum of the number of shares in your holding as of Record date. You’ll have to mention the number of shares you wish to tender/offer in the Buyback tender form and send a softcopy of this tender form in an email to ‘[email protected]’.
Limits on buy-back (board approval): Buy-back of shares may be authorised by the board of directors by means of a resolution passed at its meeting. In such case, the buy-back is 25\% or less of the aggregate of paid-up capital and free reserves of the company.
How much of Infosys’s share price did it buy back?
Infosys Ltd.’s board approved to buy back shares worth up to Rs 13,000 crore at Rs 1,150 apiece. That represents 4.92 percent of its total outstanding equity.
Rules for share buyback In case of the share buyback schemes, the capital market regulator has mandated a reserved portion for the retail class at 15\% who have in hold shares of the company worth upto Rs. 2 lakhs taking into account the market value of the scrip as on the record date of the buyback offer.
Just as you buy shares using the demat account, the same way you can tender shares during the offer by visiting the online demat account. If the buyback offer has been opened by the company, you will see it flash either under an Offer for sale offer or as a distinct buyback option.