It worked, in terms of getting the company off the suspended list - but it was still located in Kansas.Īs of today, the company’s safely back in Pleasanton, California, but Shotland Saldana’s request basically said the same thing although a bit more forcefully, but he also added: "This is our corporate listing and it must be reinstated ASAP!" I deleted the category so please un-suspend us. Shotland’s request went something like this: “Hey GMB, I added a new service category and got suspended. When Shotland didn’t get quick results, he turned to Steven Saldana, LSG’s GMB problem-solver, to ‘SEO Agency’ must be on the double-secretĭo-not-use list because as soon as I added it, our listing got suspended.” “While in there, for some reason, I decided to add “SEO agency” as a Business Category. Then he forgot about it, until February.įebruary, while in a 20-person Zoom meeting on how much we should freak out about Core Web Vitals, I logged into LSG’s GMB dashboard to see if maybe we had been moved to Colorado (hopefully nearĪspen),” Shotland wrote in a post. He said Local SEO Guide doesn’t really rely on the company’s GMB page for leads, but sent a note to GMB support for help. According to GMB, he moved and opened a hotel, all in the midst of COVID-19. Not only did GMB somehowĬhange the location of this business, but said the company apparently opened a hotel, as Shotland wrote in a post. MediaPost about search, I’ve learned that Blumenthal and Local SEO Guide Founder Andrew Shotland are two funny and smart SEO guys. Thank you, Mike Blumenthal, Near Media co-founder and authority on local search, for calling this to our attention in a tweet. Well, not so funnyīecause Local SEO Guide, an SEO agency, was never located in Kansas, but Google My Business believes the Pleasanton, California, company has been located in Fawn Creek Township, KS, since November The buyback commenced on June 25 and closed on September 14 of 2021.A funny thing happened on the way to Kansas. Last year, Infosys launched a share buyback plan worth ₹9,200 crore. Also, Infosys stock price had even reached the maximum buyback price during the previous two buybacks. Jefferies also highlighted that during previous buybacks, Infosys shares climbed by 12-21% from the announcement to the buyback's closure and outperformed Nifty IT on 2 of the past 3 occasions. The company has fixed October 28 as the record date for the dividend, while the payment date is set on November 10, 2022.Įarlier, for Infosys, Jefferies had said that the buyback is expected to support Infosys' share price amidst uncertain macro. Further, its consolidated cash and investments stood at ₹38,921 crore in Q2FY23 against ₹34,854 crore in Q1FY22.Īpart from the buyback, the Infosys board also approved an interim dividend of ₹16.50 per equity share. The buyback is subject to the approval of the members of Infosys by way of a special resolution and all other applicable statutory/ regulatory approvals.Īs of September 30, 2022, Infosys has a free cash flow of ₹4,752 crore compared to ₹5,106 crore in Q1FY23. Lastly, Indian Public, corporates, and others (2,844,320 shareholders) hold a 25.92% stake in the company. NRIs (47,373 shareholders) and Foreign Nationals and Overseas Corporate Bodies (12 shareholders) hold 0.82% and 0.04% of the company. While Indian financial institutions/ banks/ mutual funds (58 shareholders) hold 642,817,041 equity shares or 15.27% in Infosys.įurther, FPIs or FIIs which have a total of 1,421 shareholders hold a 31.31% stake in the company, while ADRs (1 shareholder) hold 13.53%. Also, the company would purchase a minimum of 25,135,135 equity shares under the buyback.Īs of September 30, 2022, Infosys promoter and promoter group (25 shareholders) hold 551,682,338 equity shares or 13.11% of Infosys. Notably, if the equity shares are bought back at the price below the maximum buyback price which is ₹1,850 apiece, then the actual number of equity shares bought back could exceed the maximum buy shares but will always be subject to the maximum buyback size of ₹9,300 crore.Īs per the filing, Infosys shall utilise at least 50% of the amount earmarked as the maximum buyback size which is aggregated to ₹4,650 crore. Under the proposed buyback, the maximum number of shares to be bought back would be 50,270,270 equity shares. Also, Infosys has allowed American Depositary Shares (“ADS") to convert their ADS into equity shares and subsequently can sell such shares on the Indian exchanges during the buyback period. The buyback will be carried through the open market route. On BSE, Infosys shares closed at ₹1,419.75 apiece down by 0.64%. This floor price is at a premium from the current market price. Infosys board has also approved a buyback price not exceeding ₹1,850 per equity share.
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