InfoBeans announces Rs 10 crore share buyback plan

IT services provider InfoBeans Technologies announced a Rs 10 crore share buyback plan on Tuesday.

The company will buy back shares at Rs 232, a 25% premium to its closing price of Rs 180.75 on Monday. This amounts to a four-times return in four years, it said.

The company listed on the National Stock Exchange in May 2017 at an IPO price of Rs 58. The buyback will be done in a tender process as per the guidelines of markets regulator Securities and Exchange Board of India.


The company’s net profit rose 75% year on year to Rs 36.68 crore for the financial year ended March 31. Revenue stood at Rs 196.36 crore, up 19.2%.

Earnings before interest, taxes, depreciation and amortisation (Ebitda) was up 46.3% at Rs 54.40 crore in FY21 against Rs 37.20 crore in FY20.

Set up in 2000, InfoBeans is a digital transformation and product engineering firm, and has over 950 employees across the United States, Europe and Asia.