Infosys shares: Buyback worth Rs 18,000 crore opens tomorrow; check entitlement ratio, eligibility and target price

Infosys Ltd's Rs 18,000 crore share buyback programme will open for subscription on Thursday (November 20) and close on November 26. The company had fixed November 14 as the record date to determine eligible shareholders.

Infosys plans to repurchase 10 crore fully paid-up equity shares of face value Rs 5 each, representing up to 2.41 per cent of its total paid-up equity share capital. The buyback price has been set at Rs 1,800 per share.

The buyback is divided into two segments: a reserved category for small shareholders and a general category. A small shareholder is one holding shares worth not more than Rs 2,00,000 as on the record date.

Infosys has 25,85,684 small shareholders. The reserved portion will be 15 per cent of the shares proposed to be bought back, or the entitlement of small shareholders, whichever is higher.

Promoters and the promoter group, including Nandan M Nilekani and Sudha Murty, will not participate in the buyback. They collectively held a 13.05 per cent stake in the company on the buyback announcement date.

Entitlement ratios

For small shareholders, the entitlement ratio is 2:11, meaning investors can tender 2 shares for every 11 held on the record date. For the general category, the entitlement ratio is 17:706.

Entitlement indicates the number of shares an eligible investor can tender in the buyback based on their holdings as of November 14.

Infosys shares closed 3.74 per cent higher at Rs 1,541.25 on Wednesday. Kiran Jani, Head of Technical Research at Jainam Broking, noted that the stock has repeatedly taken support around Rs 1,400 after facing resistance near Rs 2,000 earlier.

"Rs 1,400 is a crucial support zone. At current prices, one can consider long positions with a strict stop-loss below Rs 1,400," the market expert told Business Today. He expects the stock to potentially move towards Rs 1,800–1,900 by February-March 2026.