IT major Infosys Ltd on Monday said its board will take a decision on the share buyback proposal in its meeting to be held on Thursday.
The company’s board will consider the proposal for buyback of fully paid-up equity shares of the company in its meeting to be held on October 13, 2022, according to the Securities and Exchange Board of India (Buy-back of securities). Regulations, 2018, Infosys said in a regulatory filing.
The board will finalize the company’s second quarter results on October 13.
Under share buyback or repurchase, a company buys back its shares from investors or shareholders. It is seen as an alternative, tax-efficient way of returning money to shareholders.
Shares of Infosys closed 0.95 per cent higher at Rs 1,465 per unit on the BSE Sensex index.
Last year, the Infosys board had approved a buyback plan of up to Rs 9,200 crore, which started on June 25, 2021.