Infosys Buyback to Open on Thursday

Infosys said on Tuesday that its share buyback of up to 100 million shares worth ₹180 billion will open on Thursday and close on November 26. The IT major had announced the buyback in September, offering ₹1,800 per share through the tender route, equal to 2.41% of its equity.

The company has secured exemptive relief from the US Securities and Exchange Commission, after seeking clarity on conflicting rules between Indian and US regulations for tender offers.

Infosys said in October that its promoter group, including founder Narayana Murthy, Sudha Murthy and co-founder Nandan Nilekani, will not take part in the buyback.