India's second-largest IT services exporter Infosys is likely to follow its counterparts TCS and Wipro in announcing a share buyback plan. The company informed in a regulatory filing on Thursday that it will seek shareholder approval to get a fresh Articles of Association. As of December 31, 2016, Infosys had 2,296,944,664 shares (229.69 crore shares, or 2.29 billion shares) and the closing price on Friday (February 23) was Rs 1,009.05.
Read: TCS approves buyback of shares at Rs 2,850 per share; pressure now on Infosys
Voting for the enabling resolution can also be done via e-voting or postal ballot till March 31, 2017. The outcome will be known latest by April 5, 2017. Infosys had cash and cash equivalents of about Rs 26,113 crore ($3,844 million) as of December 31, 2016.
Here is a look at Infosys starting from its initial public offering (IPO) more than two decades ago (10 shares acquired in 1993 at IPO price of Rs 95 per share would now be worth Rs 51,66,080)
February 1993
IPO at Rs 95 per share of face value Rs 10 each
June 1993
Shares got listed at Rs 145 per share
October 1993
Private placement of 5.50 lakh shares to institutional investors and FIIs at Rs 450 per share
June 1994
Bonus issue in the ratio of 1:1
June 1997
Bonus issue in the ratio of 1:1
January 1999
Bonus issue in the ratio of 1:1
March 1999
20.70 lakh American Depository Shares (ADSs) issued at $34 per ADS; each ADS was equivalent to 2 equity shares
November 1999
Stock split announced; face value reduced to Rs 5 per equity share
April 2004
Bonus issue in the ratio of 3:1
April 2006
Bonus issue in the ratio of 1:1
October 2014
Bonus issue in the ratio of 1:1
April 2015
Bonus issue in the ration of 1:1
(Source: Infosys website, annual reports, statements, regulatory filings)
Wipro bought back 4 crore (40 million) at Rs 625 per share for a total value of Rs 2,500 crore last year and TCS announced its share buyback programme of up to 5.61 crore shares at Rs 2,850 per share.
