Infosys to buy back shares again soon

Infosys to buy back shares again soon

Global software major Infosys announced on Sunday that it is planning to buy back more shares again with such a proposal on the agenda at its board meeting on April 14.

“The board will consider a proposal for buyback of fully paid-up equity shares at its meeting on April 14, 2021, in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018,” said the city-based company in a regulatory filing on the BSE.

The board meets on April 13-14 here to approve its financial results for the fourth quarter and fiscal year 2020-21.

The last time when the IT major bought back shares was in March 2019, buying 2.36 per cent of the paid-up capital (103.25 million shares) worth Rs 8,260 crore at Rs 800 per share through the open market route.

–IANS

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