Capitalstars Infosys gets near 500% response to buyback

India's second largest IT services company, said it received 499.98 per cent higher response to the proposed share buyback plan.

The Bengaluru-headquartered company had in August announced a Rs 13,000 crore share buyback plan and promised to repurchase more than 113 million equity shares aggregating up to 4.92 per cent of the paid-up equity share capital at a price of Rs 1150 apiece.

It received applications for tendering more than 565 million equity shares, nearl ..

The company repurchased 1.39 million and 1.5 million from Rohan Murthy and Sudha Gopalakrishnan, respectively, amongst the promoters of the company. Post buyback, the promoters will hold 12.90 per cent of Infosys total equity shares.

Infosys is the third IT services firm to receive higher subscription share buyback. While WiproBSE 1.16 % saw 341 per cent higher subscription, TCSBSE 1.76 % reported nearly 221 per cent higher response against its buyback plan.

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