Diabytes
Infosys buyback News
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The shares were bought back at a volume-weighted average price of Rs 1,648.53 per equity share.
The highest price at which the equity shares were bought back was Rs 1,750.
Infosys board had approved an up to Rs 9,200 crore buyback plan.
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The company's board will be meeting on April 13 to announce audited consolidated financial results of Infosys and subsidiaries for the quarter and year ending March 31.
A final dividend for the financial year FY21 will also be considered and recommended.
Infosys has already conducted two buyback programmes in the past.
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The share buyback, which will be the first in the company's 36-year long history, will see Infosys buying back over 11.30 crore shares at Rs 1,150 apiece.
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The Bengaluru-based firm has been in the eye of a storm over the past few months, with the two sides clashing over allegations such as corporate governance lapses and irregularities in Infosys' USD 200-million Panaya acquisition.
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Nilekani, along with family, has offered to tender 58 lakh shares. Murthy, along with wife Sudha and two children, has put over 54 lakh shares on the block.
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Seshasayee, however, hit out at Murthy on Friday for carrying out "personal attacks" and making "false and slanderous accusations" against him, saying he was unable to understand the motivation for the persistent vendetta.
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Co-founder Nandan Nilekani has returned to the company for a second innings, this time as non-executive Chairman in a Board-level shake-up that saw the exit of Chairman R Seshasayee along with two independent members.
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On the National Stock Exchange (NSE), the stock closed 2.09 per cent higher at Rs 911.50. During the day, the scrip had touched a high of Rs 918.25 and a low of Rs 902.35.
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The buyback decision comes a day after the company`s Chief Executive Officer (CEO) Vishal Sikka resigned and was appointed Executive Vice-Chairman till a new CEO takes charge by March 31, 2018.
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The board of the embattled company - which saw its CEO Vishal Sikka step down on Friday amid founders alleging corporate governance lapses - is scheduled to meet tomorrow to consider the buyback proposal.
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The demand comes at a time when Infosys is in the middle of the biggest leadership transition in its history.
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