Infosys buyback 2025: ₹18,000 crore at ₹1,800

Why the Infosys buyback announcement moved the stock

Infosys shares climbed as investors reacted to the company’s largest-ever share buyback, valued at ₹18,000 crore. The buyback is set at ₹1,800 per share, which the coverage described as a high premium over the prevailing market price. The announcement also drew attention because it is the fifth buyback by Infosys, and the first one announced since 2022.

On Wednesday, the stock gained 3.74% on both key exchanges. On the BSE, Infosys closed at ₹1,541.25, up ₹55, after touching an intraday high of ₹1,542.85. On the NSE, it ended at ₹1,542, also up 3.74%. The move was reflected in market capitalisation as well, with Infosys’ market value rising by ₹23,098.48 crore to ₹6,40,297.11 crore.

Key buyback terms: size, price, and method

Infosys disclosed that it plans to repurchase up to 10 crore fully paid-up equity shares, each with a face value of ₹5. The buyback price has been fixed at ₹1,800 per share and will be paid in cash. The mechanism is via a tender offer.

The company said the buyback size represents up to 2.41% of its total paid-up equity share capital (also described as around 2.4% of equity in the coverage). Some reports pegged the premium at around 19% versus the market price on the announcement day, while another reference cited a 23% premium. The buyback was repeatedly characterised as the biggest ever undertaken by Infosys and almost double the earlier two buybacks referenced in the coverage.

Dates that matter: board approval, record date, and opening

The Infosys board approved the buyback plan at its meeting held on September 11, 2025. Subsequent stock exchange communications around October 22 and October 23 reiterated the structure and key terms.

The record date was stated as November 14, with a note that the last day to buy shares to be eligible for participation is November 13. The programme is scheduled to open for subscription on Thursday, November 20.

Promoters opt out of tendering shares

A separate catalyst for the stock was the company’s update that its promoters and promoter group would abstain from participating in the buyback. The coverage named founders and promoter-group members including Narayan Murthy, Nandan Nilekani, and Sudha Murty among those not participating.

This detail was cited in Thursday trading, when the stock saw sharper intraday moves. In one session, Infosys rose 5.01% to a peak of ₹1,545.70. Another update noted the stock rising 4.12% to a day’s high of ₹1,533.10 on the NSE following the promoter non-participation disclosure.

How the buyback fits legal limits on capital and reserves

Infosys said the buyback is within the legal limit of 25% of the aggregate of paid-up capital and free reserves, based on its latest audited interim condensed standalone and consolidated financial statements as of June 30, 2025. The company further highlighted that the size of the buyback corresponds to 24.31% and 21.68% of the total paid-up share capital and free reserves on a standalone and consolidated basis, respectively, as of June 30, 2025.

This matters because buybacks in India are capped by regulatory limits tied to capital and reserves. Infosys’ disclosure positions the programme as large, but still compliant.

Stock price action across sessions

The buyback headline supported a string of positive sessions and intraday spikes. On Friday early trade, Infosys gained over 2%, with one reference citing a rise of as much as 2.32% to ₹1,544.65 on the BSE. Another snapshot mentioned Infosys shares trading at ₹1,528.6 at the time of filing.

Over a slightly longer window, the coverage also noted that Infosys shares gained more than 6% in the past five days and over 8% in the past one month, while falling nearly 3% over the past six months and down more than 18% in 2025 year-to-date.

What retail investors are watching: acceptance ratio and realised gains

Beyond the headline buyback price, retail outcomes depend on the acceptance ratio in the tender offer. The coverage referenced an example calculation at a 5% acceptance ratio, indicating the actual gain for a retail shareholder would be about 1%.

This is a practical point because tender buybacks often result in partial acceptance, especially when the buyback size is a small percentage of equity. In this case, the buyback size was repeatedly described as roughly 2.4% of equity.

Context: the 2022 buyback and how this one compares

Infosys’ previous buyback programme was announced in 2022. The company bought back shares worth ₹9,300 crore via an open market route, with a maximum price of ₹1,850 per equity share.

The current ₹18,000 crore programme is therefore materially larger. Multiple references described it as the largest ever by Infosys and the fifth buyback in its history.

Key facts at a glance

Timeline of key market moves mentioned

What to monitor next

The next milestones are linked to the tender process calendar, including the opening date of November 20 and eligibility tied to the record date of November 14. Investors will also track participation levels and the eventual acceptance ratio, which determines how much of a shareholder’s tendered stock is bought back.

For Infosys, the programme is notable for its scale, the stated premium to the prevailing market price, and the promoters’ decision not to tender shares. The company’s filings have also emphasised that the buyback remains within the 25% legal ceiling based on June 30, 2025 financials.