Shares of surged 4.29 per cent to hit a high of Rs 1,535.10 in Thursday's trade after the IT major announced that its promoters, including Narayana Murthy, Sudha Murty, Nandan Nilekani and others, will not participate in its Rs 18,000 crore share buyback programme.

In a stock exchange filing dated October 22, Infosys said the buyback involves repurchasing up to 10 crore fully paid-up equity shares of face value Rs 5 each, representing 2.41 per cent of the company's total paid-up equity share capital on a standalone basis. The shares will be bought back at Rs 1,800 apiece. Advertisement

The company informed that a draft version of the Letter of Offer has been filed with the US Securities and Exchange Commission (SEC) for regulatory purposes. Infosys clarified that the filing is only for

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