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Infosys promoters to offer up to 17.7 million shares in buyback

Mon, Sep 04 2017, 12:10 PM

The 19 individuals who currently make up the promoter group of Infosys and hold 12.75% of the company’s equity have offered to sell up to 17.7 million shares of the 292 million shares they hold in its maiden buyback offer. At the buyback price of Rs 1,150 per share, if all their shares on offer are accepted, it would fetch the promoters Rs 2,038 crore. The maximum number of shares on offer are from Nandan Nilekani, the recently-appointed chairman of the board of directors of Infosys.