Posted on 2017-08-17T02:01:38+00:00
by Vijay Jain
Incorporated in 1981, Infosys Limited (Infosys) is a global information technology (IT) services provider, headquarter in Bangalore, Karanataka, India. Infosys started IT business in 1981 and become India's 2rd largest IT service company. Infosys went public through IPO in 1993.The company was the first Indian company to be listed on the NASDAQ at the year 1999.
Infosys is a global leader in technology services and consulting. presence in more then 45 countries to create and execute strategies for their digital transformation.The company provides end-to-end business solutions that leverage technology for their clients, including consulting, design, development, product engineering, maintenance, systems integration and infrastructure management services.
The company have own software product range in banking industry. Infosys BPO is a majority owned subsidiary. Through Infosys BPO, the company provides business process management services, such as offsite customer relationship management, finance and accounting, and administration and sales order processing.
April 2017 - The Infosys board has already identified an amount of up to Rs 13,000 crore ($ 2 billion) to be paid out to shareholders during financial year 2018, through dividend and share buyback.With this big amount max possibility is Infosys is going to consider for buyback option in coming months.
As on June 2017, Infosys had cash and cash equivalents totalling Rs 39,335 crore on its books.
Update Aug 17,2017 - Infosys Board is consider a share buyback in board meeting which is planned on Aug 19,2017. The SEBI has alread given a green signal for Infosys share buyback.
CLSA expects Infosys to announce a tender offer buyback at a 10 per cent to 20 per cent premium over Wednesday's[16th Aug 2017] closing price[979.35] which should keep the acceptance ratio at 4.8 per cent to 5.3 per cent. In such case expected price for buyback is between Rs 1075 to Rs 1175.Aug 19,2017 - Infosys Board has approved a proposal for buyback of up to 11.3 crore shares at Rs 1150 per share, aggregating Rs 13,000 crore.
|Holding Type||In %|
Detail Article on Benefit from buyback offer >> Read
»» Total Share Capital: Rs 232,094.77 Cr
»» Face Value: 5 Per Equity Share
»» Buyback Offer Amount: Rs 13,000 Cr
»» Buyback Offer Size (In %): TBD
»» Buyback Number of Shares: TBD
»» Buyback Price: Rs 1150
»» Promoters and Promoter Group participation:Yes
»» Buyback type:Tender Offer
»» Can I Invest today to participate in Infosys buyback offer :Yes
|Board Meeting for Buyback proposal||19th Aug 2017|
|Buyback Approval date||TBD|
|Public Announcement of Buyback||TBD|
|Buyback opens on/Buyback Opening Date||TBD|
|Buyback closes on/Buyback Closing Date||TBD|
|Cut-off date to receive completed tender forms by Registrar||TBD|
|Cut-off date for verification by the Registrar||TBD|
|Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar||TBD|
|Last date of settlement of bids on the stock exchange||TBD|
|Last date to return unaccepted shares by Registrar||TBD|
|Last date of extinguishment of Equity Shares||TBD|
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Let's assume if you have Infosys shares at Rs 1000 and buyback offer price is Rs 1150, you can get Rs 150 per accepted share. If you hold 200 shares of Infosys and if proportionate acceptance is between 33% and 50%, in such case you are eligible to sell your 66 to 100 shares with the gain from buyback of Rs 9900 to Rs 15000.
The percentage of proportionate acceptance varies from company to company. This percentage can be also 100 % which means that company buys all of your shares.
|% Share Accepted||No of Shared Accepted||Gain from Buyback Offer|
Record Date for Infosys Buyback offer - TBD
To participate in Infosys buyback offer, record date is TBD. Which means you should hold the Infosys share in your demat account by closing session of TBD. Share purchased on and before (TBD) - 2 business days will be available in your demat account by TBD.
Retail Investor can sell up to Rs 200,000 worth of shares.
Buyback opening date for Infosys Shares: TBD
Buyback closing date for Infosys Shares: TBD
This is the window when you need to submit your application for proposal for share buyback. If you are submitting tender forms or submitting physical share certificates, it must reach to registrar by TBD.
As this is a buyback tender offer, shares are accepted in proportionate basis. Proportionate acceptance / rejection will be returned back to the eligible shareholders directly by the Registrar on or before TBD.
Money will be directly depositedin your registered bank account. Usually money will be deposited on and after TBD, which is last date of settlement of bids on the Stock Exchange.
In case of physical share holding, you will get a cheque.
Rejected shares will be available in your demat account for trading in open market by TBD.
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