Infosys shares rise 4% after promoters opt out of Rs 18,000 crore share buyback
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Infosys Ltd shares rose 4.12% to their day’s high of Rs 1,533.10 on the NSE on Thursday, October 23, following the update regarding the company's largest-ever Rs 18,000 crore share buyback programme. In a stock exchange filing, Infosys disclosed that its promoters and promoter group, including cofounders Narayan Murthy, Nandan Nilekani, and Sudha Murty, have chosen not to participate in the buyback. As per the filing, the promoters currently hold a 13.05% stake in Infosys. If the buyback is fully subscribed, their stake would increase to 13.37%, while public shareholding would reduce slightly from 86.95% to 86.63%. The company also noted that this shift could impact the voting rights of the promoters and their group. The promoters' group includes several cofounders and their relatives, such as Sudha Murty, Akshata Murty, Rohan Murty, Ekagrah Rohan Murty, Rohini Nilekani, Nihar Nilekani, and Janhavi Nilekani. The decision not to te...