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Infosys makes public offer to buyback shares

Author: IANS/Wednesday, October 11, 2017/Categories: Corporate

Infosys makes public offer to buyback shares

Bengaluru - Software major Infosys Ltd made a public offer to buyback 11.3 crore equity shares of Rs 5 face value at Rs 1,150 per share on proportionate basis through the tender offer route.

"Kotak Mahindra Capital Company Ltd and J.P. Morgan India Ltd have been appointed as managers to the offer," said the IT major in a regulatory filing on the BSE.

The public offer came a day after the company announced results of the postal ballot and electronic voting on the buyback resolution of its Board.

As per the results, 16,814 members voted in favour of the resolution, with 4,873 through postal ballot and 11,941 by electronic mode, representing 97.64% of votes. 

The month-long voting was held from September 8 to October 7.

The offer size is 20.51% of the total paid-up capital and free reserves, aggregating up to 11.3-crore shares or 4.92% of the total shares for an amount not exceeding Rs 13,000 crore.

According to the shareholding pattern, the promoters group, comprising co-founders and their families hold 12.92% of the shares, Foreign Institutional Investors & Foreign Portfolio Investors 37.33%, Indian retail, corporate and other investors 23.08%, Indian FIs, Banks and Mutual Funds 9.63%, American Depository Receipts 16.69% and Non-Resident Indians 0.52%.

The promoters, including co-founders N.R. Narayana Murthy and Nandan Nilekani have offered to sell 1.77 crore shares - valued at Rs 2,038 crore in the Rs 13,000 crore buyback offer.

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rajyashree guha

IANS

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