New Delhi: 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 99.99 per cent of the maximum buyback size (excluding transaction costs)…till 26 August,” Infosys said in a regulatory filing on late Monday night.
Consequently, the buyback committee has approved the closure of the buyback with effect from 26 August, 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 20 March, 2019. In a regulatory filing on 16 August, Infosys had said it had extinguished 76.12 lakh fully paid-up equity shares bought back from 30 July to 6 August, 2019.