{"id":15304,"date":"2017-12-23T12:03:27","date_gmt":"2017-12-23T12:03:27","guid":{"rendered":"http:\/\/punjabnews24.com\/?p=15304"},"modified":"2017-12-23T12:03:27","modified_gmt":"2017-12-23T12:03:27","slug":"infosys-completes-rs13000-crore-share-buyback","status":"publish","type":"post","link":"https:\/\/blastingskyhawk.com\/english\/infosys-completes-rs13000-crore-share-buyback\/","title":{"rendered":"Infosys completes Rs13,000 crore share buyback"},"content":{"rendered":"<p><strong>A total of 113,043,478 equity shares were bought back under the buyback at a price of Rs1,150 per equity share, says Infosys in a regulatory filing<\/strong><\/p>\n<p>New Delhi: IT services major Infosys Ltd on Saturday said it has completed its Rs13,000 crore buyback programme that saw participation from Sudha Gopalakrishnan, Rohan Murty and Life Insurance Corporation of India (LIC) among others.<\/p>\n<p>The buyback scheme\u2014a first in the company\u2019s over three decade history\u2014commenced on 30 November and closed on 14 December. \u201c(A total of) 11,30,43,478 equity shares were bought back under the Buyback at a price of Rs 1,150 per equity share. The total amount utilised in the buyback is Rs13,000 crore excluding transaction costs&#8230;\u201d Infosys said in a regulatory filing.<\/p>\n<p>The programme saw participation from LIC, Singapore government, Sudha Gopalakrishnan (wife of co-founder S. Gopalakrishnan) and Rohan Murty (son of co-founder N.R. Narayana Murthy\u2019s son) among others. The filing showed that of all the equity shares tendered in the buyback, 5.41% were by LIC and 2.18% by Singapore government.<\/p>\n<p>Similarly, 15 lakh shares of Sudha Gopalakrishnan and 13.92 lakh shares held by Murty were accepted under the buyback. As of September this year, Sudha Gopalakrishnan held the largest share in individual capacity among promoters group members with 2.14% shareholding.<\/p>\n<p>The founders and families \u2014 classified as promoters group \u2014 held 29.28 crore shares, or 12.75%, in Infosys at the end of September 2017. After the buyback, the promoter group now holds 12.90% share, as per the filing.<\/p>\n<p>The buyback had been a long-standing demand by some of the founders and high-profile former executives, who have been pushing Infosys to return surplus capital to shareholders. Share buybacks typically improve earnings per share and return surplus cash to shareholders, while supporting share price during period of sluggish market condition.<\/p>\n<p>Earlier this year, its larger rival Tata Consultancy Services completed a Rs16,000 crore mega buyback offer. Other competitors like Cognizant, Wipro and Mindtree had also made similar announcements.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>A total of 113,043,478 equity shares were bought back under the buyback at a price of Rs1,150 per equity share, says Infosys in a regulatory filing New Delhi: IT services major Infosys Ltd on Saturday said it has completed its Rs13,000 crore buyback programme that saw participation from Sudha Gopalakrishnan, Rohan Murty and Life Insurance [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":2,"featured_media":15305,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[321,315],"tags":[],"class_list":["post-15304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-top-stories"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/15304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=15304"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/15304\/revisions"}],"predecessor-version":[{"id":15306,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/15304\/revisions\/15306"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/15305"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=15304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=15304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=15304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}