Infosys Buyback Record Date: All Five Buybacks Explained

The Infosys buyback record date decides who can tender shares in a buyback offer. Infosys has run five buybacks since 2017, but only two used a tender offer with a record date. The others ran through the open market, where no record date exists.

That difference confuses many investors. Therefore, this guide lays out every Infosys buyback, the route each used and the dates that mattered. For wider context on payouts, see our Infosys dividend history analysis and our Dividend Guide category.

Quick answer: Infosys announced a record date of 14 November 2025 for its Rs 18,000 crore tender-offer buyback at Rs 1,800 per share. Only shareholders on the register on that date could tender. Earlier open-market buybacks in 2019, 2021 and 2022 had no record date.

Key Takeaways

• Infosys has completed five buybacks: 2017, 2019, 2021, 2022 and 2025.
• Only tender-offer buybacks (2017 and 2025) used a record date.
• The 2025 buyback was the largest: up to 10 crore shares at Rs 1,800 each.
• Retail investors had a reserved quota of 15 percent in the 2025 tender offer.
• Always check the exchange notice for the exact cut-off date before you buy.

Infosys Buyback History at a Glance

Year	Route	Maximum size	Price	Record date?
2017	Tender offer	Rs 13,000 crore	Rs 1,150 per share	Yes (reported as 1 November 2017)
2019	Open market	Rs 8,260 crore	Up to Rs 800 per share	No
2021	Open market	Rs 9,200 crore	Up to Rs 1,750 per share	No
2022	Open market	Rs 9,300 crore	Up to Rs 1,850 per share	No
2025	Tender offer	Rs 18,000 crore	Rs 1,800 per share	Yes (14 November 2025)

Sources differ on a few details of the older buybacks, so verify any figure you plan to rely on against the company’s filings on NSE and BSE.

What Is a Buyback Record Date?

A buyback record date is the cut-off the company uses to identify shareholders eligible to tender shares. The company checks its register on that day. Consequently, only investors who held shares before the date can participate.

Under T+1 settlement, you must buy at least one trading day before the record date so the shares reach your demat account in time. In the 2025 offer, commentators noted that purchases on 13 November qualified, while purchases on the record date itself did not. Confirm the rule in the exchange notice, because trading calendars can change.

Infosys Buyback 2025: The Latest Offer

Detail	Information
Board approval	11 September 2025
Size	Rs 18,000 crore
Shares	Up to 10 crore equity shares (about 2.41 percent of paid-up capital)
Price	Rs 1,800 per share
Route	Tender offer through NSE and BSE
Record date	14 November 2025
Tendering window	20 to 26 November 2025
Retail quota	15 percent reserved for small shareholders
Promoters	Chose not to participate
Subscription	About 8.26 times the shares on offer
Extinguishment	10 crore shares reported extinguished on 11 December 2025

The offer was oversubscribed, so Infosys accepted only a fraction of the shares tendered. As a result, many shareholders saw partial acceptance. Retail investors with smaller holdings generally received a higher acceptance ratio because of the reserved quota.

Earlier Buybacks: 2017 to 2022

2017 tender offer

Infosys offered to buy up to 11,30,43,478 shares at Rs 1,150 each, worth up to Rs 13,000 crore. The tender window ran from 30 November to 14 December 2017. This offer used a record date, which a brokerage note reported as 1 November 2017.

2019 open-market buyback

The 2019 programme began on 20 March 2019 with a ceiling of Rs 800 per share. Infosys bought and extinguished about 11.05 crore shares at an average price of Rs 747. No record date applied, because investors simply sold on the exchange.

2021 and 2022 open-market buybacks

The board approved the 2021 buyback on 14 April 2021 at up to Rs 1,750 per share. It opened on 25 June 2021. The 2022 programme set a ceiling of Rs 1,850 per share and began on 7 December 2022. Infosys bought about 6.04 crore shares at an average of Rs 1,539.06 and closed it early on 13 February 2023.

Tender Offer vs Open Market Buyback

Feature	Tender offer	Open market
Record date	Yes	No
Who can participate	Shareholders on the record date	Anyone selling on the exchange
Price	Fixed, usually at a premium	Market price, up to a ceiling
Acceptance	Proportionate; may be partial	Sale executes like a normal trade
Retail quota	15 percent reserved	Not applicable
Certainty of exit	Depends on acceptance ratio	High, at market price

Tender offers usually reward participants with a premium price. Open-market buybacks, in contrast, support the share price gradually. Our guide to a shareholder quota in an IPO covers the concept from first principles.

How to Participate in an Infosys Buyback

1. Confirm you held shares before the record date.
2. Open the buyback window in your broker app or on the exchange platform.
3. Enter the number of shares you want to tender and place the bid at the buyback price.
4. Wait for the registrar to announce the acceptance ratio.
5. Receive proceeds for accepted shares; unaccepted shares return to your demat account.

Tendering is optional. You can ignore the offer and keep your shares. Additionally, a buyback does not cancel your regular dividend entitlement.

Tax on Buyback Proceeds

Budget 2024 changed the tax treatment of buybacks from 1 October 2024. Companies no longer pay buyback tax. Instead, shareholders treat the proceeds as dividend income and pay tax at their slab rate, while the cost of shares becomes a capital loss. Tax rules change frequently, so check the Income Tax Department site and see our tax on dividend income guide.

Illustrative Example: What a Tender Offer Acceptance Looks Like

The numbers below are an illustration, not Infosys data.

Item	Value
Shares you tender	200
Buyback price	Rs 1,800
Acceptance ratio	12 percent
Shares accepted	24
Cash received	24 × Rs 1,800 = Rs 43,200
Shares returned to demat	176

Because most of your tendered shares come back, the buyback changes your portfolio only slightly. Therefore, judge a buyback by price premium and your tax cost, not by the headline size. Companies with surplus cash, such as large IT firms, often return it through both buybacks and dividends, as our TCS dividend history analysis shows.

Expert Insights: Reading a Buyback Signal

First, compare the buyback price with the market price. A large premium gives immediate value to tendering shareholders. Second, check how the company funds it. Infosys held surplus cash, so the buyback did not need debt. Third, look at the acceptance ratio, because partial acceptance lowers your effective gain.

Moreover, buybacks and dividends both return cash. However, a buyback also shrinks the share count, which can lift earnings per share. You can learn how that affects valuation in our PE ratio meaning and shareholding pattern guides.

Common Mistakes Around Buyback Dates

• Buying on the record date and assuming eligibility.
• Expecting full acceptance in an oversubscribed tender offer.
• Ignoring the tax change that applies to proceeds.
• Confusing open-market buybacks with tender offers.
• Relying on social media for dates instead of exchange notices.

Frequently Asked Questions

What was the Infosys buyback record date in 2025?

Infosys fixed 14 November 2025 as the record date for its Rs 18,000 crore tender-offer buyback at Rs 1,800 per share.

How many buybacks has Infosys done?

Infosys has completed five buybacks: 2017, 2019, 2021, 2022 and 2025. Only the 2017 and 2025 offers used tender offers with record dates.

Did the open-market buybacks have a record date?

No. Open-market buybacks, such as those in 2019, 2021 and 2022, work through stock exchange trades, so no record date applies.

Can I participate if I bought shares on the record date?

Generally no. Under T+1 settlement, you needed to buy before the record date so the shares appear in your demat account on time.

What was the buyback price in 2025?

The price was Rs 1,800 per share for up to 10 crore shares, covering about 2.41 percent of paid-up capital.

Why was my buyback acceptance partial?

The 2025 offer drew bids for roughly 8.26 times the shares available. Therefore, the registrar accepted shares proportionately.

Is buyback income taxable?

From 1 October 2024, shareholders treat buyback proceeds as dividend income taxed at slab rates. Verify current rules with the Income Tax Department.

What the Infosys Buyback Record Date History Means for You

The Infosys buyback record date matters only for tender offers, so check the route before you plan. Buy early, confirm the cut-off in the exchange notice and expect partial acceptance when demand is high. Finally, compare the premium with the tax cost. Visit the Investor Weekly News for more explainers. This article is educational and does not recommend any action.