Last updated: 25 Jun, 2021 | 08:22 am
Overview on Infosys buyback
The share buyback is in-line with the company’s decision to return 85% of the free cash reserves over a period of five-years through a combination of dividends and share buyback to shareholders. Infosys said the Buyback is being undertaken by the Company after taking into account the strategic and operational cash needs in the medium term and for returning surplus funds to the members in an effective and efficient manner. However, do keep in mind that the shares are being bought back through the open market route, as against a tender offer. This means that Infosys will directly buy back the shares through the stock exchange route. The company will not be making any tender offer to shareholders for the same.
At its recent AGM, the company had announced that it expects the revenue to grow 12-14 percent in constant currency, backed by good, broad-based demand across industries in FY22. Read highlights from AGM
The Covid-19 pandemic has forced a tectonic shift in business processes to move towards greater digitization. This has helped the IT sector to bounce back faster than other industries. Infosys said that the relevance of its offerings is resonating with its clients in these times. Infosys looks well-poised to expand its market share further in the upcoming quarters.