Infosys share buyback: An arbitrage opportunity

The company is likely to announce its September quarter results on October 24

Infosys has been firming up at the bourses, gaining nearly 4% in the last few sessions, after the company announced November 01 as the record date for determining the entitlement and the names of the shareholders who will be eligible to participate in the company’s Rs 13,000 crore buyback offer. Infosys is likely to announce its September quarter results on October 24.

According to a note by HDFC Securities, investors can use this opportunity for arbitrage and earn around 25% return. The acceptance ratio (proportion of shares accepted to the total number of shares tendered in the buyback