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Infosys shares closed 2.12 per cent lower at ₹785.5 on Tuesday after the IT major announced the closure of its buyback programme. In a notice to the BSE, Infosys said it has bought back 11.05 crore of its shares under its ₹8,260-crore buyback offer that began in March this year.
The company bought back 11,05,19,266 equity shares at an average price of ₹747.38 a share, for an amount of ₹8,259.99 crore, utilising 99.9 per cent of the maximum buyback size (excluding transaction costs) with a balance of ₹569.97 till August 26.
Consequently, the buyback committee has approved closure of the buyback pursuant to the terms of the public announcement.
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