November 1 record date for Infosys share buyback programme

The buyback was approved in the Board Meeting on August 19, 2017 and approved by the shareholders by means of a special resolution through postal ballot, the results of which were announced earlier, o

India's second largest software services firm Infosys said that it has fixed November 1, 2017 as the record date for share buyback programme.

"The Buyback Committee has approved and fixed November 1, 2017 to be the record date for determining the entitlement and the names of the equity shareholders to whom the letter of offer will be sent and will be eligible to participate in the buyback...," Infosys said in a regulatory filing.

The buyback was approved in the Board Meeting on August 19, 2017 and approved by the shareholders by means of a special resolution through postal ballot, the results of which were announced earlier, on October 9, 2017.

"Shareholders whose names appear on the Register of Members / List of Beneficial Owners as on November 1, 2017 will be eligible to participate in the Buyback offer and will also be eligible to receive the interim dividend," it said.

The share buyback, which will be the first in the company's 36-year long history, will see Infosys buying back over 11.30 crore shares at Rs. 1,150 a piece.

(With agency inputs)