Infosys promoters offer Rupees 2,038 crore shares for buyback

New Delhi : Infosys promoters, including iconic co-founders NR Narayana Murthy and Nandan Nilekani, have offered to sell as many as 1.77 crore shares worth up to Rs 2,038 crore in the company’s Rs 13,000 crore buyback offer.

The promoters group, which includes most of the founders and their families, have expressed their intention to be part of the company’s first buyback plan in its over three-decade history and have offered to tender a maximum of 1.77 crore shares.

Promoters group to offload 1.77 cr shares in Rs 13,000-cr buyback plan

At a buyback price of Rs 1,150 per share, this could mean a windfall of Rs 2,038.94 crore for the promoter group, if all the shares tendered by them are accepted in the buyback offer.

The founders and families, classified as promoters group, held 29.28 crore shares, or 12.75 per cent, in Infosys at the end of June 2017.

The Bengaluru-based firm has been in the eye of a storm over the past few months, with founders and erstwhile board members clashing over allegations such as corporate governance lapses and irregularities in Infosys’ $200-million Panaya acquisition. The spat, often public, culminated in the sudden resignation of the then CEO Vishal Sikka and exit of four board members, including Chairman R Seshasayee.