US SEC grants exemptive relief for Infosys' share buyback

New Delhi, Sep 12 (PTI) The US Securities and Exchange Commission (SEC) has granted exemptive relief for Infosys' share buyback as requested by the company, according to a statutory filing on Friday.

The exemptive relief from the US securities' regulator is on certain aspects of the tender offer procedures, due to conflicting regulatory requirements between Indian and US laws for tender offer buybacks, Infosys said in the BSE filing.

The Board of India's second largest IT services company on Thursday green-lit its largest-ever share buyback programme worth Rs 18,000 crore.

The record buyback entails Infosys buying 10 crore fully paid-up equity shares of a face value of Rs 5 each, representing up to 2.41 per cent of the total paid-up equity share capital, at Rs 1,800 per share.

"We would like to inform you that, by way of a letter from the SEC dated September 11, 2025, the company has obtained the requested exemptive relief from the SEC," it said.

The letter, it said, will be publicly available on the SEC's website once posted by the commission.

"This has reference to our letter dated September 11, 2025, regarding the outcome of the meeting of the Board of Directors of Infosys Limited approving the proposal to buyback...in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended, the Companies Act, 2013 and the rules made thereunder, subject to receipt of exemptive relief from the US Securities and Exchange Commission on certain aspects of the tender offer procedures, due to conflicting regulatory requirements between Indian and US laws for tender offer buybacks," it further said.

The buyback is subject to approval of the shareholders by way of a special resolution through postal ballot. The record date for the buyback will be determined in due course, according to the company.

The public announcement setting out the process, timelines and other statutory details will be released in due course in accordance with the buyback regulations. PTI MBI HVA