Infosys’ Rs 18,000 crore share buyback window to open on Nov 20. 5 things to know

India’s second-largest IT services company Infosys’ Rs 18,000 crore share buyback window will open on Thursday, November 20 and will close on Wednesday, November 26. The company received shareholders’ approval on November 6 for the share buyback up to ten crore fully paid-up equity shares.

Infosys will buy the shares at a price of Rs 1,800 from the shareholder who had the company shares as on the record date of November 14.

The shares will be bought on a proportionate basis by the company through the tender offer route.

The company has appointed Kotak Mahindra Capital Company as the manager to the buyback while KFin Technologies Limited is the registrar to the issue.

5 things to know:

1) Tender form deadline: Last date and time for receipt of completed Tender Forms and other specific documents by the registrar to the buyback is November 26 by 5 pm.

2) Buyback entitlement: Reserved category for small shareholders is 2 equity share for every 11 equity shares held on the record date. For general category for all other eligible shareholders, 17 equity share for every 706 equity shares held on the record date. 3) Eligible shareholders can only participate in the buyback by tendering shares through a stock broker registered either with the BSE or the NSE. 4) Confirmation by stock broker: Upon tendering of shares, the stock broker will provide the Transaction Registration Slip (TRS) generated by the stock exchange bidding system to the eligible shareholder. On receipt of TRS, the eligible shareholder has successfully tendered Equity Shares in the buyback. Eligible shareholder participating through online website platform of the stock broker may receive an acknowledgement in place of a TRS.

5) Physical tendering: Eligible Shareholder’s holding equity shares physical form will be required to submit the duly filled in and signed tender form, TRS and requisite documents to the registrar before 5 pm on the last date of the tendering. Such shareholders tendering dematerialized Equity Shares under the buyback are not required to submit the tender form and the TRS to the registrar.

The announcement was made after market hours on Tuesday and Infosys shares today ended at Rs 1,486.80 on the NSE, down Rs 20.80 or 1.38% over Monday closing price.