Infosys buyback sees strong investor response; bids exceed offer size eightfold

Infosys’ board in September had approved a buyback offer of up to 10 crore shares at ₹1,800 per share, amounting to a total of ₹18,000 crore

Infosys Ltd’s share buyback, conducted through the tender offer route between November 20 and 26, drew an overwhelming response from shareholders, with cumulative bids exceeding the offer size by more than eight times.

According to data available on the BSE, the IT major received bids for 82.61 crore shares, against the 10 crore shares on offer, translating into a subscription level of 826.10 per cent. All bids were submitted in dematerialised form, with only electronic shares tendered.

Infosys’ board in September had approved a buyback offer of up to 10 crore shares at ₹1,800 per share, amounting to ₹18,000 crore. This is the IT giant’s biggest buyback in history.

In a regulatory filing, Infosys had informed that this represents up to 2.41 per cent of the total number of equity shares in the existing total paid-up equity share capital of the company (on a standalone basis). The company clarified that the buyback size does not exceed 25 per cent of the aggregate of the paid-up capital and free reserves.

According to an HDFC SKY report, this response indicates investor interest well above expectations. Infosys had a book size of 10 crore shares with a face value of ₹5, which saw the different investor groups showing interest as the offer entered its last hours.

“Current, subscription levels stand at 826 per cent and this means that acceptance ratios will be extremely low in all categories. This is because the heavy oversubscription implies a lot of sentiment behind the buyback, but also that at the time the final allocation is announced, only a small percentage of tendered shares will be accepted,” the report noted.

Published on November 26, 2025