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Noida-based IT major HCL Technologies has approved the buyback of equity shares worth ₹4,000 crore at ₹1,100 per share.
“The company has approved the buy-back of 3.64 crore paid up equity shares of face value of ₹2 each, representing 2.61 per cent of the fully paid-up equity shares of the company outstanding as on March 31, 2018 and as of now,” the company said in its BSE filing.
The buyback will not exceed ₹4,000 crore, which is 14.83 per cent and 11.59 per cent of the fully paid-up equity capital and free reserves (including security premium account).
The buyback is subject to the approval of the shareholders by way of a special resolution through Postal Ballot and all other approvals as may be required, the report said.
Last year HCL had announced buyback of shares worth ₹3,500 crore. Shares of the company closed at ₹1,005.30 on the BSE on Thursday, up 1.03 per cent from previous close.
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