Infosys, the IT services giant, has opened its largest-ever share buyback programme worth ₹18,000 crore on November 20, 2025. Eligible shareholders have five trading days to tender their shares, with the buyback window closing on November 26. The record date for determining eligible shareholders was November 14, meaning only those holding shares in their demat accounts on that date can participate.

Under the buyback, Infosys plans to repurchase 10 crore equity shares of ₹5 each at ₹1,800 per share, representing up to 2.41% of the total paid-up equity. The programme includes a 15% reservation for small shareholders, with a share buyback ratio of 2:11 for reserved category investors and 17:706 for general category shareholders. Promoters, including Nandan M. Nilekani and Sudha Murty, will not participate; they collectively held 13.05% of shares at the time of announcement.

Analysts say the buyback offers an attractive premium for retail investors, particularly those in lower tax brackets. However, taxation may reduce net gains for higher-income investors, as the buyback proceeds are treated as deemed dividends and taxed at the shareholder’s slab rate. Despite this, Infosys’ strong balance sheet and internal funding for the buyback highlight its solid cash flow position. The buyback is also expected to reduce share count and improve ROE, benefiting long-term holders who choose not to tender shares.