Infosys Buyback Nears Triple Oversubscription as Bids Climb to 290.20%

Bengaluru, November 25: Infosys’ share buyback continues to attract demand from investors as it enters its second-to-last day. As of 4:00 PM on November 24, total bids by investors for the buyback reached 29.01 crore shares, against 10 crore shares on offer. This marks a total subscription of 290.20% as of yesterday. Subscription update for today will come at the same time, and the demand is expected to increase further.

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 ₹1,538.50.

Infosys Share Buyback: Latest Subscription Update

The total bids have reached 29,01,96,994 shares, with a subscription level of 290.20%. The number of demat shares stands at 29,01,96,994 shares, with no physical shares in the overall subscription.

Shares Fall 0.61% At ₹1,538.50

As of 10:00 AM, Infosys’ share price was trading lower by 0.61%, or 9.50 points, at ₹1,538.50. Until now, the shares have traded within a range of ₹1,550.60 and ₹1,534.90. The traded volume stood at 8.53 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 share buyback is a good opportunity for investors who want to make a quick profit by selling the shares back to Infosys. The buyback price of ₹1,800 is at a premium to the current share price. With a 290.20% subscription, the buyback is expected to garner more demand today and on its last day tomorrow.

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