Infosys to consider share buyback on April 14

IT services major Infosys on Sunday said its board will consider a buyback proposal at its meeting on April 14.

"The board of the company will consider a proposal for buyback of fully paid-up equity shares of the company at its meeting to be held on April 14, 2021, in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018," Infosys said in a regulatory filing.

The outcome of the board meeting will be disseminated to the stock exchanges after conclusion of the board meeting on April 14, it added.

The board of the Bengaluru-based company is slated to meet on April 13 and 14, 2021, to approve and take on record the audited consolidated financial results of the company and its subsidiaries for the quarter and year ended March 31, 2021.

In August 2019, Infosys had bought back 11.05 crore of its shares under its Rs 8,260-crore buyback offer.

Infosys had completed its maiden buyback of Rs 13,000 crore in December 2017, comprising 11.3 crore equity shares at a price of Rs 1,150 per share.