Infosys approves closure of Rs 8,260 crore buyback; shares slip 2%

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The company in January had announced that it would buy back shares of the company for an amount aggregating up to Rs 8,260 crore.





Shares of Infosys slipped almost 2 percent in early trade on August 27 in an otherwise positive market.

The IT major on August 26 said a board committee has approved the closure of the Rs 8,260 crore buyback offer with the company utilizing almost full size of the issue approved.

The company in January 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 Committee has approved the closure of the Buyback pursuant to the terms of the Public Announcement, with effect from today, i.e. August 26, 2019, prior to the expiry of six months from the commencement date," Infosys said in a regulatory filing.

Shares of Infosys traded 1.67 percent down at Rs 789.50 on BSE around 0925 hours (IST).




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