Infosys share repurchase, buyback price, 2022 record date - all details

Infosys share repurchase, buyback: Infosys has announced a Rs 9,300 crore share buyback programme - fourth such activity by India's second-largest IT company in the last 5 years. The Bengaluru headquartered IT major made this announcement while declaring its second-quarter results for the current fiscal. The previous Infosys buyback programmes were announced in 2017, 2019 and 2021.

Infosys Share Repurchase, Buyback Price

The company has said that the buyback price will not exceed Rs 1,850 per equity share. This floor price or maximum buyback price is at a premium from the market price on Thursday - the day company made this announcement. The scrip had ended at Rs 1,419 on Thursday.

Maximum Number Of Infosys Share Buyback 

The company has stated that it will buyback 50,270,270 (around 5 crore) equity shares comprising approximately 1.19 per cent of the paid-up capital of the company as of September 30, 2022 (on a standalone basis). However, the number of equity shares bought back could exceed the maximum buy shares in case the shares are bought back at the price below the floor price - which is Rs 1,850.  

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Infosys will utilise at least 50 per cent of the amount earmarked as the Maximum Buyback Size for the Buyback i.e.  Rs 4,650 crore.

The company has also announced an interim dividend of Rs 16.5 per share. 

Infosys Share Dividend Record Date 

Infosys has also announced the record date for determining the eligibility of those who have the scrip to receive the dividend amount. The record date for the dividend is October 28.

Infosys Share Dividend Payment Date 

The company has fixed November 10 as the payment date for the interim dividend of R 16.50 per share.

Infosys Buyback History

Infosys announced its first share buyback programme of Rs 13,000 crore was announced in 2017 through the tender offer route. It was followed by Rs 8,260 crore issue in 2019 and Rs 9200 crore in 2021.

What is share buyback? 

As the term suggests, it simply means purchasing own shares from existing investors/shareholders. It is one of the corporate actions wherein companies buy their own shares from investors at an elevated rate. This helps the company to consolidate ownership. Buyback can be done in two ways - Tender Route and Open Market.