Infosys scrip closed at Rs 669.85 at end of Tuesday's trading on BSE.Bengaluru:Software major Infosys will buy back its shares again and pay special dividend to its shareholders for this fiscal (2018-19), said company on Tuesday.
"The company's Board of Directors will consider buyback of its paid-up equity shares, payment of special dividend and implementation of capital allocation policy at its meeting on January 11," said city-based IT (information technology) firm in a regulatory filing on BSE.The board had approved capital allocation policy at its meeting on April 13, 2018."The outcome of Board meeting will be disseminated to stock exchanges after meeting on January 11," added filing.The $11-billion outsourcing firm had completed its maiden buyback of 11.3-crore equity shares in December 2017 of Rs 5 face value for Rs 13,000 crore at Rs 1,150 per share."The buyback of 11,30,43,478 shares was made under tender offer route from November 30 and closed on December 14," said company in a filing on December 23, 2017 on BSE.Among retail investors who then sold shares more than 1 per cent of total shares include Rohan Murthy (13,92,682 shares), son of co-founder NR Narayana Murthy, and Sudha Gopalakrishnan (15,00,000 shares), wife of another co-founder Kris Gopalakrishnan.Ms Sudha held largest share among promoters, with 2.14 per cent shareholding.Among institutional investors were LIC of India (61,13,787 shares), Government of Singapore (24,66,354) and Franklin Templeton Investment Funds (1728,865 shares).Kotak Mahindra Capital Co and JP Morgan India were issue managers for buyback of shares.The offer size was 20.51 per cent of total paid-up capital and free reserves, aggregating up to 11.3-crore shares or 4.92 per cent of total shares.The company's scrip closed at Rs 669.85 at end of Tuesday's trading on BSE, losing marginally Rs 1.30 over Monday's closing price of Rs 671.15 and opening rate of Rs 673.05.