How do I participate in the Infosys Buyback offer?

I have infy shares worth 2.02 Lakh Rupees (as on record date i.e. 1 Nov) , someone said i fall under HNI since the amount is greater then 2 Lakh, if i make it below two lakh by selling 3-4 shares well before tendering it e.g. tomorrow, …in this case would i fall under retail…?


No, if you sell shares now, you will still be considered an HNI investor. Your Infy value should’ve been <2lacs as of 1 Nov for you to apply as a retail investor.

You can still tender shares as an HNI. Based on the HNI shareholding pattern and HNI quota, you will be entitled accordingly in your tender form.

I have received Interim Dividend yesterday, any idea when i will receive offer of Buy Back mail.

between 10-15 november

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Hey all, I called Infy investor services and they confirmed that it takes 15 to 20 days from record date to roll out the tender forms. They’re waiting for a final SEBI approval they said. Ideally, you should all get your tender forms next week like Tarun said.

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I have Infosys share and I have buyed that before October still I didn’t receive the buyback form for the Infosys buyback offer

@Harshal1 Answered right above your question.

Nobody has received that yet. Kindly wait for an email.

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Any idea whether Restricted Stock Units (RSUs) are eligible for this buyback offer?

@Highoctane, only those stocks which were in your Demat account on the record date(1 Nov) is eligible for buyback.

According to the latest infosys share holding pattern there are 13 cr shares with retail investors and only 1.9 crore of this will be brought back by Infosys. So only 10% will get accepted by Infosys on tendering. Thats way below projected 60% by the various media and news agencies.
As 10% will be accepted it will be wise to hold infosys for few more months. Infosys will easily cross 1200.


Well, we don’t know the acceptance ratio yet, which depends on how many of those 13 cr shares will be tendered back. The lesser the people who tender, the higher the acceptance ratio.

Hello Srinivas
Do you expect the buyback process to be completed by November end . TCS did not take more than a month after the buy back cut off date. Please give me your opinion

@Investwise you brought up an interesting point.

So I did some digging on my own and went through the shareholding pattern of Infy ( from their website) for the last few quarters. Based on those details,

  1. As of Mar 31 2017, no. of shares with non-institutional investors i.e. Individuals with share capital upto Rs. 2 Lacs - 14.18 crores approx
  2. As of Sep 30 2017, no. of shares with non-institutional investors i.e. Individuals with share capital upto Rs. 2 Lacs - 16.33 crores approx

I am very sure this number would have further increased by Nov 1st the record date.

Per my understanding, Infy is gonna buy back only 2.1 crore shares ( based on the closing price of Nov 1st the record date) which works out to an entitlement ratio of just about 12.85% assuming every one of tenders his/her shares.

So all those reports which were published by Bloomberg, India-Infoline, Money controls etc. where they predicted an entitlement ratio of 59% - are they wrong?

Could anyone verify whether my understanding is correct?

If yes, then the bet that I took with buying Infy shares just for buy back doesn’t seem to be worth it…

Can any of the moderators, comment on it please ?

Thanks as always.

Rakesh, you are not correct. 2lakhs capital means share at face vale ie Rs 5. Retail investor means number of stocks for value rs 2 lakhs at rs 945. Which stock holding pattern is not declared.

@Shankar_s That is what I was thinking, but still wrote the post to get a confirmation from some of the other boarders.
Thanks for clarifying. :slight_smile:

So, in a nutshell, we will not know of the true entitlement ratio until we get the mail from Infy’s RTA for the eligible shareholders. Well, will keep my fingers crossed then… :wink:

Entitlement ratio has been released by Infosys.

The Buyback Entitlement for Small Shareholders is 28.39% and General category is 4.29%. Tender forms will be sent on or before Nov 23. The buyback windows opens on Nov 30 and closes on Dec 14.

@Roy Could you disclose the source of this information?

Here, is the Official Circular.
It’s a 77 Page detailed information by Infosys submitted to Exchange.

All the Details are provided Related to Buyback.