This will be the fifth share buyback that Infosys will be announcing in the last eight years, with the first one back in 2017. This will also be the first buyback from Infosys in three years, the last one dating back to 2022.
The previous three instances have seen the company announce share buybacks via open market operations. However, with buybacks from the open market being phased out from April 1 this year, this will be a buyback via the tender offer route.
As of June 2025, Infosys had cash worth nearly ₹24,500 crore on its books.
Brokerage firm Morgan Stanley wrote in its note on Tuesday that it does find the Infosys buyback timing to be interesting, particularly in the context of heightened macro uncertainty.
It sees the size of the buyback to range from ₹10,000 crore to ₹14,000 crore. Historically, buyback price has been at a premium of 18% to 25% from the previous day’s close, according to Morgan Stanley.
Infosys shares have already rallied 7% or ₹100 in the last two trading sessions, gaining another 2% on Wednesday, after Tuesday’s 5% pop. The stock ended at ₹1,532, still down 18% on a year-to-date basis.
