@Rohit_Kadam, @Mudit.Kushalvardhan, @brijwanth, @suhagpatel
Infosys did declare the buyback with a maximum cap of Rs.1850 per share. However, as per 2023 AR page 305, they ended up executing the buyback at Rs.1539 per share.
If we look the period when the buyback was executed (7th Dec’22 to 13th Feb’23), the stock traded at ~ Rs 1560 → went to Rs 1470 → Back to Rs 1560. Considering the average buyback was executed at Rs 1539, I think the company did not overpay.
However, I understand that we can always ponder about whether buyback at Rs 1539 is right use of capital or should they have waited a bit more.
What do you think?
Regards,
Mahesh