Wednesday, 27 December 2017

Promoters’ stake in Infosys rises from 12.75% to 12.9%

The stake of the promoters in Infosys has risen from 12.75% to 12.9% after the completion of a Rs13,000cr share buyback. The company had received applications for tendering over 565mn shares against the 113mn shares that were proposed to be bought back.

The company had said it would buyback 4.92% of its paid-up equity share capital at a price of Rs1,150 per share.

Prior to the buyback offer, the promoters held 292.81mn shares. After the buyback, the promoters held 281.7 mn shares. This was a decline of 11.1mn shares worth Rs1,277cr.

The stock is currently trading at Rs1,033.2, down by Rs1.15 or 0.11% from its previous closing of Rs1,034.35 on the BSE. The scrip opened at Rs1,029 and has touched a high and low of Rs1,033.2 and Rs1,025.1 respectively.

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