Infosys, India's second-largest IT services company, is currently undertaking its fifth and largest share buyback program, offering investors a chance to liquidate a portion of their holdings at a premium. The buyback, worth ₹18,000 crore, has a record date of November 14, 2025.

Key Details of the Buyback

• Buyback Size: ₹18,000 crore.
• Buyback Price: ₹1,800 per share.
• Number of Shares: Up to 10 crore equity shares, representing 2.41% of the total paid-up capital.
• Record Date: November 14, 2025.
• Premium Offered: Approximately 20% above the current market price at the time of announcement.
• Tender Period: November 20 – 26.

Last Date to Buy Shares

Today, November 13, 2025, is the last day for investors to purchase Infosys shares to be eligible for the buyback. According to the T+1 settlement cycle in India, shares purchased on the record date will not qualify for the buyback. Therefore, to be eligible, investors must have the shares in their demat account by the end of today.

How to Participate

Shareholders who hold Infosys shares as of the record date, November 14, 2025, are eligible to participate in the buyback. The process involves the following steps:

1. Hold Shares on Record Date: Ensure that Infosys shares are in your demat account by November 14, 2025. To ensure eligibility, the shares had to be purchased and held by November 13, 2025.
2. Submit Your Tender: The buyback window will be declared by the company. Shareholders can log in to their trading platform (e.g., Kotak Neo), navigate to the buyback section, select Infosys, and submit their tender offer. The tender period is scheduled for November 20-26.
3. Await Acceptance: Since the buyback is for a limited portion of the total equity (2.41%), not all tendered shares will be accepted. The acceptance ratio will determine how many of your shares are purchased by the company.
4. Receive Payment: Accepted shares will be credited with payment, while unaccepted shares will be returned to the shareholder's demat account.

Special Consideration for Small Shareholders

The buyback includes a 15% reservation for small shareholders, defined as those whose total shareholding value is ₹2 lakh or less on the record date. This reservation ensures a higher acceptance ratio for retail investors. Small shareholders receive the higher of their proportionate entitlement or 15% of the total shares being bought back.

Tax Implications

Significant changes to tax laws in 2024 have altered the tax implications of share buybacks. Under the new tax regime (effective from October 1, 2024), shareholders pay tax at their income tax slab rate, with the amount received treated as "deemed dividend". Previously, the company paid a 20% buyback tax, and shareholders received tax-free proceeds.

Promoter Non-Participation

The promoters of Infosys, including Nandan M. Nilekani and Sudha Murthy, have decided not to participate in the buyback. This decision increases the potential acceptance ratio for public shareholders.

Reasons for the Buyback

Infosys is undertaking this buyback to return surplus cash to shareholders, boost earnings per share (EPS), signal confidence in the company's future, improve shareholder value, and optimize capital structure.