Infosys amends Articles of Association to go for share buyback

Shareholder approval pending; IT firm has a cash pile of Rs 35,697 cr

Infosys, the second-largest information technology (IT) firm in the country, has amended its articles of association (AoA) so that it might to go for a share buyback. On Thursday, the Bengaluru-based firm said it had sought shareholders’ approval, to conform to the Companies Act 2013.

Shareholders and founders of the company have sought better capital allocation. 

As on December 31, 2016, Infosys had Rs 35,697 crore in its kitty; sources said the company could return half of it to shareholders through buybacks or dividend.

Asked if the company was planning to pay out the excess cash on its