Infosys bought back shares at ₹1,800 per share through a tender offer that ran from 20 November 2025 to 26 November 2025 (record date 14 November 2025), with the shares listed on the BSE, NSE. Shareholders on the register on 14 November 2025, the record date, were eligible to tender. The offer covered 10,00,00,000 shares, 2.41% of the equity, about ₹18,000 crore.
The buyback price was 19.2 percent above the closing price of ₹1,509.71 on 11 September 2025, the last close before the offer; a small shareholder could tender up to 111 shares within the two-lakh-rupee limit. With a history of four decades, Infosys Limited is a worldwide leader in consulting, technology, outsourcing, and next-generation digital services to help clients in over 50 countries to design and implement strategies for their digital transformation.
The organization is committed to ongoing improvement through the creation and sharing of digital skills, capabilities, and ideas within its innovation ecosystem. The organization provides solutions in the areas of digital marketing, digital commerce, digital interactions, and digital workplace services.
| Acceptance | Shares accepted | Profit |
|---|---|---|
| 33% | 36 | ₹10,450 |
| 50% | 55 | ₹15,965 |
| 75% | 83 | ₹24,094 |
| 100% | 111 | ₹32,222 |
Before brokerage and tax, on the maximum small-shareholder holding at the last close before the offer; the offer has since closed.
| Metric | 31-Mar-25 | 31-Mar-24 |
|---|---|---|
| Profit After Tax | 26,750 | 26,248 |
| Reserves & Surplus | 12,116 | 15,092 |
| Revenue | 1,66,590 | 1,58,381 |
| Total Assets | 1,48,903 | 1,37,814 |
The Company is undertaking the Buyback after considering its strategic and operational cash needs in the medium term, as well as the need to return surplus funds to members effectively and efficiently, in line with its capital allocation policy. The financial parameters internal factors considered include, but are not limited to:
Expected cash requirements of the Company towards working capital, investments in AI and other areas, capital expenditure in technology and infrastructure, etc.Investments required towards execution of the Company's strategy:Funds are necessary for any acquisitions that the Board may approve. Minimum cash required for contingencies or unforeseen events;
Any other significant developments that require cash investments As of June 30, 2025, the Company had consolidated cash and investments (comprising cash and cash equivalents, current and non-current investments excluding investments in equity and preference shares and others) of 45,204 crore The Buyback is being undertaken for the following reasons:The Buyback will help the Company to return surplus cash to its members, in line with the stated Capital Allocation Policy.
The Buyback is expected to improve return on equity through distribution of money and improve earnings per share by reduction in the equity base in the long term, thereby leading to long-term increase in members' value.The Buyback gives an option to all the members of the Company as on the Record Date, either to sell their Equity Shares and receive cash or not to sell their Equity Shares and get a resultant increase in their percentage shareholding in the Company post the Buyback, without additional investment, and The Buyback, which is being implemented through the Tender Offer route, would involve allocating to the Small Shareholders the higher of (a) the number of shares entitled as per their shareholding or (b) 15% of the number of shares to be repurchased, as per Regulation 6 of the Buyback Regulations.
The Company believes that this reservation for small shareholders would benefit a large number of the Company's public shareholders, who would be classified as Small Shareholders.
In a tender offer the company fixes a price, usually above the market price, and invites every shareholder who held shares on the record date to offer some or all of them back. The entitlement ratio says how many shares you may tender for every share you hold, and because most offers are oversubscribed the acceptance ratio, the share of tendered shares the company actually buys, is known only after the offer closes.
Shares are tendered through your broker during the offer window; accepted shares are paid for at the buyback price and the rest return to your demat account within a few days of the close.
Fifteen percent of every tender offer is reserved for small shareholders, defined as those whose holding in the company was worth two lakh rupees or less at the market price on the record date. Because far fewer shares are tendered in that category, its entitlement ratio is usually much higher than the general category's, and that reservation is the reason retail investors follow buybacks at all.
The figures on this page show how many Infosys shares fit within the limit, what they cost at the last closing price, and what the profit would be at different acceptance ratios, before brokerage and tax.
Since October 2024 the amount a shareholder receives in a buyback is taxed as a dividend in their hands at their slab rate, and the cost of the accepted shares becomes a capital loss that can be set off against capital gains. That makes the after-tax result quite different from the headline premium, and for a shareholder in a high tax bracket a buyback with a modest premium can be worth less than selling on the exchange.
Work it through for your own bracket, or ask a tax adviser, before tendering.
₹1,800 per share, 19.2 percent above the closing price of ₹1,509.71 on 11 September 2025, the last close before the offer. The premium over the market price is what made tendering worthwhile.
14 November 2025. Shareholders had to hold the shares in their demat account on that date, which meant buying them by 13 November 2025 so that delivery settled in time.
The tender window ran from 20 November 2025 to 26 November 2025. Shares were tendered through brokers, and tender forms were accepted until 26 November 2025.
2/11: the company accepted 2 shares for every 11 held, about 18.2 percent of a small shareholder's holding, before any unaccepted shares from other categories were redistributed. The general category ratio was 17/796.
Up to 111 shares, which is the two-lakh-rupee small-shareholder limit divided by the buyback price of ₹1,800. At the closing price of ₹1,509.71 that holding cost about ₹1,67,578.
The offer closed on 26 November 2025. The company has not published the final acceptance ratio; the table shows what the profit would have been at 33 to 100 percent acceptance. At 33 percent the profit on a maximum small-shareholder holding would have been about ₹10,450; at 100 percent about ₹32,222, before brokerage and tax.
Accepted shares were paid for at ₹1,800 and unaccepted shares were returned to demat accounts by 3 December 2025.
For buybacks completed after 1 October 2024 the amount received is taxed as dividend income at your slab rate, and the cost of the accepted shares becomes a capital loss that can be set off against capital gains. Confirm the treatment for your own position with a tax adviser.