Record buyback of Rs 47,810 cr by 48 firms in 2023, highest in 6 yrs

A buyback is a process a company employs to repurchase its shares from stakeholders

As much as Rs 47,810 crore was spent on share buybacks by 48 companies in 2023 -- the highest amount since 2017. This surge in value was largely driven by a few large-sized issues, including those by Tata Consultancy Services (Rs 17,000 crore), Larsen & Toubro (Rs 10,000 crore), and Wipro (Rs 12,000 crore).

In 2022, 58 companies had repurchased shares worth Rs 38,305 crore, according to data from Prime Database.

Other prominent buybacks last year were those by Piramal Enterprises (Rs 1,750 crore), Hinduja Global Solutions (Rs 1,020 crore), Triveni Engineering & Industries (Rs 800 crore), and Gujarat Narmada