Infy plans share buyback of up to Rs 12,000 cr, 3rd in 5 years

Mumbai/Bengaluru: The Infosys board is considering a share buyback proposal on Wednesday that would be the Bengaluru-based IT services company’s third in less than five years. Sources told TOI that the size of the buyback could be Rs 10,000-12,000 crore, and at a price of Rs 1,650-1,670 apiece. On Friday, the Infosys stock closed at Rs 1,441 on the BSE.

Infosys returned one-third of its cash, or Rs 13,000 crore ($2 billion), to shareholders in 2017-18 at Rs 1,150 apiece. In 2019, there was a Rs 8,260-crore buyback at Rs 800 apiece. In the last one year, Infosys has paid two dividends, aggregating Rs 21.5 per share, BSE data shows.