Despite Infosys Ltd announcing a lucrative share buyback at ₹1,800 per share—offering a premium of over ₹300 on the current market price—its promoters have decided to stay away from the offer. The move, experts say, is driven by the steep tax implications arising from recent amendments in the Income Tax Act, which make buybacks highly unattractive for resident shareholders.

Infosys, on September 11, 2025, unveiled a buyback proposal at ₹1,800 per share against the then market price of ₹1,510. The stock currently trades around ₹1,472, making the buyback appear rewarding on paper. But a deeper look into the tax math reveals why the company’s promoters have opted out.

New tax regime makes buyback costlier than market sale

According to Ved Jain, former President of the Institute of Char

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