HCL Technologies opens its buyback offer on September 18 and closes on October 3. The company intends to buy ₹4,000 cr worth shares for an estimated price of ₹1,100 per share. About 3,63,63,636 shares that constitute 2.61% of the company’s outstanding shares are intended for buyback.
‘In accordance with the SEBI (Buy Back of Securities) Regulations, 1998, the Company has, on September 10, 2018, completed the dispatch of the letter of offer dated September 7, 2018 for the buyback to all the equity shareholders/ beneficial owners of the equity shares as on the record date being August 31, 2018,’ HCL Technologies said in a BSE filing.
Shareholders approved the buyback last month. The company’s share prices dropped down by 0.57% to ₹1,082.50 on NSE yesterday.
About HCL Technologies
HCL Technologies is a next-generation global technology company that helps enterprises re-imagine their businesses for the digital age. HCL serves leading enterprises across key industries, including 250 of the Fortune 500 and 650 of the Global 2000. HCL generated consolidated revenues of USD 8.0 billion for 12 months ended 30th Jun 2018.