Infosys’ ₹18,000-Crore Buyback Sparks Market Lift Ahead of November Window

By Zenia Pearl V. Nicolas

Infosys’ Bengaluru headquarters, where the company announced its record ₹18,000-crore share buyback. Image courtesy: Infosys / Press resources

Infosys shares climbed nearly 4% after the IT giant confirmed it will open subscriptions for its ₹18,000-crore share buyback on November 20, marking the largest repurchase program in the company’s history. The buyback will be executed via the tender-offer route at a fixed price of ₹1,800 per share, according to filings reported by the Times of India and Business Standard.

A Signal from India’s IT Heavyweight

Infosys’ move comes at a time when Indian IT stocks have been trading sideways, pressured by global tech spending cuts. Analysts say that large, cash-backed buybacks often act as sentiment stabilizers during weak demand cycles. The company’s decision underscores confidence in its long-term valuation and continued balance-sheet strength.

In its recent quarterly results, Infosys posted stable revenues and margins amid a subdued global tech environment—reinforcing its ability to maintain cash generation even in soft markets.

Reading the Market’s Reaction

The nearly 4% intraday surge indicates how quickly domestic markets respond to capital-return signals from major IT exporters. Analysts have described the buyback as a potential “valuation anchor,” especially as the tender window opens on November 20 and closes on November 26. With promoters opting not to participate, the program’s impact on the free float and earnings-per-share is expected to be meaningful.

The Broader Picture

Share buybacks are becoming a recurring strategy among India’s top technology exporters. Infosys’ latest program, its largest ever, reflects a broader shift toward capital discipline and predictable shareholder returns—critical in a year when clients are tightening discretionary IT budgets. It is also a reminder that India’s IT giants excel not only in delivery capabilities but also in the financial resilience they demonstrate during slowdowns.

References

Business Standard. (2025, November 18). Infosys to start largest ever share buyback of ₹18,000 crore on Nov 20. https://www.business-standard.com/companies/news/infosys-to-start-largest-ever-share-buyback-of-18-000-crore-on-nov-20-125111801210_1.html Business Standard

Times of India. (2025, November 18). Infosys share buyback: IT giant’s Rs 18,000 crore buyback window to open on November 20; here’s what shareholders need to know. https://timesofindia.indiatimes.com/business/india-business/infosys-share-buyback-it-giants-rs-18000-crore-buyback-window-to-open-on-november-20-heres-what-shareholders-need-to-know/articleshow/125414143.cms The Times of India

Times of India. (2025, November 19). Infosys shares jump 4%: IT giant’s stock surges ahead of record Rs 18,000 crore buyback; subscription opens November 20. https://timesofindia.indiatimes.com/business/india-business/infosys-shares-jump-4-it-giants-stock-surges-ahead-of-record-rs-18000-crore-buyback-subscription-opens-november-20/articleshow/125436749.cms The Times of India

Hindustan Times. (2025, November 20). Infosys buyback: Cues for retail investors as tender window opens tomorrow. https://www.hindustantimes.com/business/infosys-share-buyback-cues-for-retail-investors-as-tender-window-opens-tomorrow-101763543449090.html Hindustan Times

Infosys Limited. (2025, November 18). Letter of offer for buyback 2025 [PDF]. https://www.infosys.com/investors/shareholder-services/documents/buyback-2025/letter-offer.pdf