Bengaluru-headquartered IT services and consulting major Infosys has announced its biggest buyback programme to date of ₹18,000 crore. According to a stock exchange filing, the company will be offering a price of ₹1,800 per share, and is looking to mop up upto 10 million fully paid-up equity shares or approximately 2.41% of the company’s total shares. The date for the opening and the closing of the share tendering period is yet to be announced. “The public announcement and other documents setting out the process, timelines and other statutory details of the Buyback will be released in due course in accordance with the Buyback Regulations,” the company filing stated.  

Infosys has conducted four buybacks earlier, starting with the one in 2017, of around ₹13,000 crore; this was followed by buybacks of around ₹8,260 crore in 2019 and ₹9,200 crore in 2021. The last buyback programme the company undertook was in 2022, for ₹9,300 crore. Infosys continues its policy of returning approximately 85% of its cumulative free cash flow over a five-year period through a combination of semi-annual dividends, share buybacks, or special dividends.  

Under the current shareholding pattern at the company, the promoter and promoter group hold 13.05%, while Indian financial institutions, banks, and mutual funds together hold 37.81%. The foreign investor portfolio segment, including foreign institutional investors, foreign portfolio investors, ADRs, and others, holds a 37.74% share, while the Indian public, corporates, and others currently hold an 11.40% stake in the company. 

According to the BSE, the 52-week high of the Infosys stock was ₹2,006.80, while the 52-week low stood at ₹1,307.10. On Thursday, the company’s shares closed at ₹1,509.5 apiece, off the day’s high of ₹1,519.85.