Infosys share buyback: Here's a look at India's biggest share repurchases

Infosys will buy back ₹18,000 crore worth of shares at a premium, marking its biggest repurchase in a decade. Here's a look at major corporate buybacks in India

Infosys has announced its largest share buyback in a decade, worth ₹18,000 crore, at a time when IT stocks are reeling under global uncertainty and tariff-related pressures.

 

The Bengaluru-based IT major will repurchase 100 million shares at an average price of ₹1,800 per share. This is a 19.3 per cent premium to its Thursday closing price of ₹1,509.50. The buyback, representing 2.41 per cent of its paid-up equity capital, is the fifth such exercise by Infosys in the past 10 years.

 

The company’s last buyback came in 2022, when it spent ₹9,300 crore to repurchase 60 million shares at ₹1,850 apiece through the open market.

 

 

With Infosys being the recent entrant, here’s a look at some of the biggest buybacks by Indian companies in recent history:

 

TCS leads with mega buybacks

Tata Consultancy Services (TCS), India’s largest IT company, has been the most aggressive in buybacks. In 2022, it completed an ₹18,000 crore repurchase at ₹4,500 per share through the tender route. With cumulative buybacks of over ₹40,000 crore in the last decade, TCS has consistently used this tool to return capital to shareholders, lift return on equity (ROE), and strengthen share performance. 

 

Bajaj Auto’s ₹10,000 crore buyback

In March 2024, Bajaj Auto carried out one of the biggest buybacks of the year, worth ₹10,000 crore. Shares were repurchased at ₹10,000 each—a hefty 43 per cent premium. The move was aimed at deploying surplus cash, consolidating equity, and boosting earnings per share (EPS).

 

Bajaj Consumer Care’s consecutive buybacks

Bajaj Consumer Care announced a new plan to buy back up to 6.43 million shares, or 4.69 per cent of its equity, at ₹290 per share—an 18 per cent premium to the market price. This marks the second straight year of buybacks by the company, following a ₹166 crore repurchase in 2024 via the tender route.

 

Wipro’s ₹12,000 crore repurchase

In 2023, Wipro executed a ₹12,000 crore buyback at ₹445 per share through the tender offer route. The company used the exercise as part of its capital allocation strategy, enhancing EPS and improving return ratios.

 

Telecom and pharma players join the wave

Indus Towers launched a ₹2,640 crore buyback in August 2024 at ₹465 per share, rewarding select shareholders while strengthening its share base amid rising telecom infrastructure investments.

 

Aurobindo Pharma also completed a ₹750 crore buyback in 2024 at ₹1,460 apiece, supported by strong reserves and global revenues. Zydus Lifesciences followed with a ₹600 crore buyback in March 2024 at ₹1,005 per share, signalling confidence in its drug pipeline. 

 

Fertilisers sector participation

Chambal Fertilisers & Chemicals announced a ₹700 crore buyback in January 2024 at ₹450 per share. The company used surplus cash flows from its fertiliser business to reduce outstanding equity and maximise shareholder value.

 

Buybacks as a tool for stability

Across industries, Indian companies are increasingly turning to buybacks as a way to return cash, optimise capital, and reassure shareholders during volatile market conditions. With Infosys now announcing its largest repurchase in a decade, the spotlight is back on how leading firms use excess capital to balance growth, liquidity, and investor confidence.