Infosys would buy back 113 million shares or 4.92% of equity capital at Rs 1,150 apiece. The company will be spending Rs 130 billion for the same.

The company further said that the buyback represents premium of 17.73% and 17.92% on BSE and NSE, respectively, over the closing price of the stock as of August 16, 2017, the date of intimation to the exchanges of the board meet to consider the proposal of the buyback.

Total volume of shares traded on the bourses today was higher by 276.61% to 16,238,739 compared with 22-day average volume of 4,311,784.

Shares of the company declined Rs 24.3, or 2.63%, to trade at Rs 898.80. The total volume of shares traded was 1,646,629 at the BSE (10.13 a.m., Monday).