In the latest development on the Rs 18,000 crore Infosys buyback, the tech bellwether has received exemptive relief from the US Securities and Exchange Commission (SEC) for its buyback. “The company has obtained the requested exemptive relief from the SEC. The letter will be publicly available on the SEC’s website once posted,” Infosys said in its regulatory filing.
The company sought exemptive relief from the US SEC to address certain tender offer procedures, which were in conflict with Indian regulations.
Infosys board approves Rs 18,000 crore buyback
A day before, on September 11, the board of directors had approved a proposal to buy back up to 10 crore fully paid-up equity shares, each with a face value of Rs 5, for an aggregate amount of Rs 18,000 crore.
The buyback will be conducted in line with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, and the Companies Act, 2013.
Infosys Buybak: Shareholder approval still pending
The buyback is subject to approval by shareholders through a special resolution via postal ballot. Infosys will announce the record date, process, timelines, and other statutory details in due course, following regulatory guidelines.
Information for US Investors
Infosys has clarified that this communication is for information only and does not constitute an offer to purchase or a solicitation to sell shares. If approved, the tender offer will be made through a Schedule To filing with the US SEC, which will include the letter of offer and related documents.
Share price of Infosys
The share price of Infosys has been buzzing trade today. However the shares have been under significant pressure and are down 18.86 per cent, so far in 2025.