Infosys wraps up buyback for 130 billion rupees

(MENAFN- Khaleej Times) Software major Infosys Ltd on Saturday announced that it had competed the buyback of 113 million equity shares of five rupees face value at 1,150 rupees per share for 130 billion rupees.

"The post buyback public announcement is being made in compliance with Regulation 19 (7) of the Securities and Exchange Board of India (Sebi) Regulations, 1998," said the IT major in a regulatory filing on the BSE.

The company's maiden buyback of 11,30,43,478 equity shares was made under the tender offer route from November 30 and closed on December 14.

"The settlement of all valid bids was completed by the Clearing Corporation of India Ltd on December 22 and the funds have been paid to shareholders whose shares were accepted under the buyback," said the filing.

Among the retail investors who sold shares more than 1 per cent of the total were Rohan Murthy, the son of co-founder N.R Narayana Murthy, with 13,92,682 and Sudha Gopalakrishnan, wife of another co-founder Kris Gopalakrishnan, at 15,00,000. She held the largest share among the promoters, with 2.14 per cent shareholding.

Among the institutional investors were LIC of India (61,13,787 shares), the Singaporean government (24,66,354) and Franklin Templeton Investment Funds (1728,865 shares).

Kotak Mahindra Capital Company Ltd and J.P. Morgan India Ltd were the issue managers for the buyback of shares.

The offer size was 20.51 per cent of the total paid-up capital and free reserves, aggregating up to 113 million shares or 4.92 per cent of the total shares.

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