Infosys Secures SEC Approval for Landmark Share Buyback
The US SEC has granted Infosys exemptive relief for its Rs 18,000 crore share buyback, aligning differing regulatory requirements between US and Indian laws. Infosys will buy 10 crore equity shares at Rs 1,800 each. The buyback awaits shareholder approval through a special resolution.
- Country:
- India
The US Securities and Exchange Commission (SEC) has approved Infosys' request for exemptive relief concerning its massive share buyback plan.
The relief addresses procedural disparities between Indian and US regulations, allowing Infosys to move forward with its Rs 18,000 crore buyback scheme. This decision paves the way for Infosys to acquire 10 crore shares, priced at Rs 1,800 each, which represent 2.41% of its total share capital.
The proposed buyback is contingent upon shareholder approval via a special resolution and the details will be outlined in a forthcoming public announcement.
(With inputs from agencies.)
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