Bengaluru— The Board of Directors of Infosys Ltd on Thursday approved the company’s proposal to buyback of equity shares at a price not exceeding Rs 1,850 per share at an outlay of Rs 9,300 crore.

In a regulatory filing, Infosys said the Board approved the buyback of shares held by persons other than the promoters, the promoters group, and persons in control of the company.

The company’s shares are now changing hands at about Rs 1,420 per share.

The Infosys Board also approved the acquisition of Rs.2.5 crore revenue Channel Bridge Software Labs Private Ltd by a wholly-owned subsidiary EdgeVerve Systems Ltd.

The purchase consideration towards IP and contracts at Rs 1.42 crore, excluding employee retention and performance bonus. (IANS)