The shares will be purchased by the company on a proportionate basis through the tender route.The company has appointed Kotak Mahindra Capital Company as administrator of the buyback, while KFin Technologies Limited is the registrar of the issue.
5 things to know:
1) Registration Form Deadline: Deadline for receipt of completed registration forms and other specific documents by the registrar for the redemption is November 26 by 5:00 PM.
2) Right of redemption: The reserved category for small shareholders is 2 shares for every 11 shares held on the record date. For the general category for all other eligible shareholders: 17 shares for every 706 shares held on the record date. 3) Eligible shareholders can participate in the buyback only by tendering shares through a stock broker registered with the BSE or NSE. 4) Confirmation by stockbroker: When offering shares, the stockbroker will provide the Transaction Record Slip (TRS) generated by the stock exchange bidding system to the eligible shareholder. Upon receipt of the TRS, the eligible shareholder successfully tendered shares of stock for the repurchase. Eligible shareholder who participates through the broker’s online website platform may receive a confirmation in lieu of a TRS.
5) Physical Registration: The physical form of the shares of the eligible shareholder is required to submit the duly completed and signed registration form, TRS and required documents to the Registrar before 5:00 PM on the last date of registration. Such shareholders tendering dematerialized shares in the context of the redemption are not required to submit the registration form and TRS to the registry.
The announcement was made after market hours on Tuesday and Infosys shares ended today at Rs 1,486.80 on the NSE, down Rs 20.80 or 1.38% from Monday’s closing price.
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