Infosys will buy back 13,000 crore shares

New Delhi: Infosys, trying to recover from ‘huge’ trouble, has offered some relief to its investors. The board of directors of the company approved buyback of buyback of shares worth Rs 13,000 crore on Saturday. Now after the approval of the shareholders, the proposal will be implemented.

under offer

1.In total, 11,30,43,478 shares will be bought back.
2.One stock will be bought at a price of Rs 1150.
3.Shares close to Rs 923.10 on Friday.
4.All kind of shareholders can application for sell back..

Figures of August 16, 2017 show that there are more than 7.07 lakh shareholders in Infosys, who have more than 229.69 crore shares. There are more than seven million small investors in total investors. The small investor here means the investor who has shares worth less than two lakh rupees. The majority of buybacks can be given to these small investors, who will get the chance to sell their shares in a legal manner at a higher price.

This relieved news for the investors came at a time when after the resignation of Managing Director-cum-Chief Executive post of Vishal sikka, there was heavy selling in the shares. On August 18, Infosys shares closed at Rs 923.10 on BSE after more than nine-and-a-half percent decline. According to the experts, the news of the buyback was already expected,