Infosys promoters have offered to sell as many as 1.77 crore shares -- worth up to Rs 2,038 crore -- in the company's Rs 13,000 crore buyback offer. The promoters group -- which includes most of the founders and their families -- have expressed their intention to be part of the company's first buyback plan.
At a buyback price of Rs 1,150 per share, this could mean a windfall of Rs 2,038.94 crore for the promoter group, if all the shares tendered by them are accepted in the buyback offer. The founders and families -- classified as promoters group -- held 29.28 crore shares, or 12.75%, in Infosys at the end of June 2017.
Infosys is a global leader in technology services and consulting. It enables clients in more than 50 countries to create and execute strategies for their digital transformation.