Infosys Buyback Frenzy Continues as Subscription Hits 350.87%

Bengaluru, November 25: The demand for Infosys’ share buyback continues to increase a day before the issue closes. As of 3:45 PM, the total bids for the buyback have increased to 35.08 crore shares, against 10 crore shares on offer. This represents an oversubscription of 350.87% as of now.

Infosys Share Buyback: Key Details

Infosys will repurchase 10 crore fully paid-up equity shares of face value ₹5 each from eligible shareholders. The buyback will represent up to 2.41% of the company’s paid-up equity share capital. Infosys has priced its share buyback at ₹1,800, which is a premium over its current share price of ₹1,530.60.

Infosys Share Buyback: Latest Subscription Update

The total bids have reached 35,08,73,721 shares, with a subscription level of 350.87%. The number of demat shares stands at 35,08,73,721 shares, with no physical shares in the overall subscription.

Shares Fall 1.14% At ₹1,530.60

At the market close today, Infosys’ share price ended 1.14% or 17.40 points lower at ₹1,530.60. The shares made an intraday high of ₹1,550.60 and an intraday low of ₹1,525.90. The traded volume stood at 81.80 lakh shares, with the company’s market cap at ₹6,41,855 crore.

Investor Takeaway

Infosys’ share buyback has entered its second-to-last day, and the subscription window will close tomorrow. The heavy demand for the share buyback showcases that investors are taking the buyback as a good opportunity to make quick profits by selling the shares back to the company. Furthermore, the buyback price of ₹1,800 is a good price that provides a premium to the shareholders. With a 350.87% subscription until now, the buyback is expected to see more demand tomorrow.

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