Infosys ₹18,000-crore share buyback to open on November 20 — what investors need to know
Infosys has launched one of India’s largest-ever share repurchase programmes. The buyback — sized at ₹18,000 crore — opens for subscription on November 20, 2025 and closes on November 26, 2025. This move has immediate implications for retail and institutional holders, and for the company’s per-share metrics.
What the ₹18,000-crore buyback means for Infosys shareholders
Size, price and scale — the headline numbers
Infosys will buy back up to 10 crore equity shares at ₹1,800 per share, representing roughly 2.41% of its paid-up equity capital. The aggregate consideration for the tender offer is capped at ₹18,000 crore. These are the core facts every shareholder should note.
Timing — calendar you can act on
The buyback window opens on November 20, 2025 and closes on November 26, 2025. The company fixed November 14, 2025 as the record date to determine which shareholders were eligible to participate. If you were on the register on that record date, you can tender shares during the window.
Why Infosys is doing this — common reasons and company rationale
Companies undertake buybacks for several practical reasons: to return surplus cash to shareholders, to manage capital structure, to improve earnings per share (EPS) and return on equity (ROE), and sometimes to support share price when management believes the stock is undervalued.
In Infosys’s case, the company framed the buyback as a way to return excess cash to investors while maintaining financial flexibility. The tender offer route and the sizable premium (~a high single-thousand rupee price) signal management’s intention to provide an attractive exit for those who want liquidity now. These points are also reflected in the company’s regulatory filings.
Who’s not participating — promoters opted out
Infosys’s promoters and promoter group have formally stated they will not participate in this buyback. That means public shareholders (retail, HNI, institutional) are the primary participants — and if the buyback is fully subscribed, promoters’ relative stake will edge up slightly simply because the overall share count falls. Promoter non-participation is important because it preserves promoter control while still returning cash to the market.
How the buyback is structured — tender offer route explained
Tender route basics
Infosys is using the tender offer route under the buyback regulations. Eligible shareholders submit (or “tender”) shares during the window. If the buyback is oversubscribed, shares are accepted on a pro rata basis in each category (retail, non-retail), as per the detailed ratio in the offer documents. The company has published a Letter of Offer and tender forms for both physical and dematerialized holdings.
ADS holders and non-resident shareholders
American Depositary Share (ADS) holders who cancel ADS and withdraw underlying equity shares before the record date are eligible. The offer documents outline specific instructions for non-resident and institutional holders — always follow the forms and broker guidance closely to avoid paperwork mistakes.
Practical checklist — steps for retail shareholders
- Confirm you were a shareholder on November 14, 2025 (record date). If not, you are not eligible.
- If eligible and you want to participate, decide whether to tender your shares through your broker (for demat holdings) or via the physical tender form if applicable.
- Read the Letter of Offer and the tender form instructions carefully (the forms include timelines, documentation, and bank mandate details).
- Understand tax implications: buyback proceeds under the tender route may be treated differently than dividends and should be evaluated with your tax advisor.
Market and investor impact — what to expect
Infosys shares reacted positively in early trading after the announcement, reflecting that the market often views buybacks as supportive of EPS and shareholder returns. If the company retires the repurchased shares, EPS and ROE can improve (all else equal). However, long-term valuation drivers remain business performance, order bookings, and margin trends — not just capital allocation moves.
Risks and things to weigh before you tender
- Opportunity cost: Tendering shares gives you cash at the offered price but removes future exposure to Infosys upside. Consider your investment horizon.
- Pro rata acceptance: If oversubscribed, you may only have a portion of your tender accepted, and you’ll keep the balance of shares. Know how acceptance is calculated.
- Tax treatment: Rules can vary by residency and type of investor — check with a tax professional.
Where to find official documents and next steps
Infosys has published the Letter of Offer and tender forms on its investor relations page; these are the authoritative documents for process details, eligibility, and timelines. Always treat the company documents and the regulator (SEBI) announcements as the final word.
Quick summary (TL;DR)
- What: Infosys share buyback worth ₹18,000 crore.
- How much: Up to 10 crore shares at ₹1,800 each (~2.41% of equity).
- When: Open Nov 20, 2025 — Close Nov 26, 2025. Record date Nov 14, 2025.
- Promoters: Opted out of participating.
Final thought: use facts, not noise
Infosys’s ₹18,000-crore buyback is a significant capital-allocation decision that immediately benefits shareholders who seek liquidity at the offered price and can uplift per-share metrics for remaining holders. If you’re considering participation, read the Letter of Offer, check eligibility against the record date, and factor in your investment goals and tax situation before acting. For precise steps, use your broker’s buyback/tender facility and consult a financial advisor where needed.
