Share Buybacks 2023 in India

Here is the collection of all share buybacks 2023 in India. This list of the latest buyback offers has been updated with vetted corporate developments from stock exchanges and SEBI.

Share Buybacks 2023 in India (Tender)

Company Name	Record Date	Buyback Dates	Buyback Price (INR)	Premium (%)
Somany Ceramics	15 Dec	21 - 28 Dec	850	28.96
SIS	12 Dec	18 – 22 Dec	550	13.08
TCS	25 Nov	1 - 7 Dec	4,150	14.95
GNFC	24 Nov	1 - 7 Dec	770	11.36
Sinclairs Hotels	29 Sep	6 - 12 Oct	200	24.81
Siyaram Silk Mills	18 Sep	25 Sep – 3 Oct	650	18.40
BSE	14 Sep	21 - 27 Sep	1,080	NA
Larsen & Toubro	12 Sep	18 - 25 Sep	3,200	NA
KRBL	25 Aug	31 Aug – 6 Sep	500	21.15
Piramal Enterprises	25 Aug	31 Aug – 6 Sep	1,250	16.52
FDC	25 Aug	31 Aug – 6 Sep	500	33.76
IndiaMART	25 Aug	31 Aug – 6 Sep	4,000	37.96
Control Print	18 Aug	24 - 30 Aug	800	25.04
Aarti Drugs	4 Aug	9 - 17 Aug	900	76.99
Ashiana Housing	28 Jul	2 – 8 Aug	301	51.75
Goldiam International	21 Jul	27 Jul - 2 Aug	150	12.74
James Warren	18 Jul	24 - 28 July	250	4.17
Amrutanjan	13 Jul	19 – 25 July	900	22.28
Wipro	16 Jun	22 - 30 Jun	445	18.87
Axita Cotton	2 Jun	8 - 14 Jun	56	96.91
Hinduja Global	6 Mar	22 May - 2 Jun	1,700	20.9
TeamLease Services	3 Apr	12 - 25 May	3,050	31.0
Welspun India	10 May	16 - 22 May	120	37.84
Symphony	29 Mar	3 - 17 May	2,000	90.9
Godawari Power	31 Mar	10 - 17 Apr	500	28.8
Ajanta Pharma	24 Mar	31 Mar - 10 Apr	1,425	17.2
Welspun Enterprises	13 Feb	16 - 31 Mar	200	20.2
Sportking India	10 Feb	15 - 28 Mar	950	34.06
Abirami Financial	27 Jan	14 - 29 Mar	28	22.91
VRL Logistics	10 Feb	13 - 27 Mar	700	34.5
SoftSol India	13 Jan	3 - 17 Mar	170	7.73
Jagran Prakashan	6 Jan	2 - 16 Mar	75	2.67
Triveni Engineering	23 Dec	16 Feb - 1 Mar	350	26.28
eClerx Services	27 Dec	3 - 16 Feb	1,750	27.25
Technocraft Industries	30 Dec	1 - 14 Feb	1,000	20.89
Kama Holdings	23 Dec	31 Jan - 13 Feb	14,500	6.33
Tips Industries	30 Dec	27 Jan - 9 Feb	2,600	42.56
Cosmo First	14 Dec	27 Jan - 9 Feb	1,070	29.18
Triveni Turbine	23 Dec	17 - 31 Jan	350	23.72

Share Buybacks 2023 in India (Open Market)

Company Name	Buyback Dates	Max Buyback Price (INR)	Premium (%)
CL Educate	21 Aug – 28 Nov	94	22.41
Emami	13 Apr - 5 Jul	450	24.7
Natco Pharma	21 Mar - 12 May	700	23.2
KDDL	25 Jan - 9 Feb	1,200	12.39
VLS Finance	16 Jan - 25 May	200	24.7
IEX	11 Jan - 15 Mar	200	32.9
Paytm	21 Dec - 13 Feb	810	50.14
Freshtrop Fruits	20 Dec - 7 Feb	115	22.0
Bajaj Consumer	19 Dec - 13 Apr	240	33.6
Infosys	7 Dec - 13 Feb	1,850	30.3

Share buybacks in 2023 showed a marked preference in favour of the tender route. For the full-year, we see that a total of 39 buybacks were announced and undertaken by different companies. Interestingly, these buybacks were conducted at an average premium of 28.5% over the prevailing market price.

As many as 10 buybacks were also conducted under the open market route. These open market share buybacks in 2023 were conducted at market prices which tend to be lower than the maximum buyback prices.

This list of buybacks in 2023 includes all such buybacks which have closed in 2023, even if the event started in 2022.

What is a Buyback of Shares?

A share buyback, aka share repurchase, is a financial strategy employed by companies to reduce the number of outstanding shares in the secondary markets i.e. stock markets. It is important to note that nowadays, unlisted startups also engage in share buybacks. Nevertheless, this article is all about the buyback of shares in the listed space.

Share repurchases are typically accomplished by purchasing shares from existing shareholders, either through the open market or through a tender offer. In simple words, buybacks perform the opposite function of IPOs where a company issues shares to investors.

Stock buybacks are often undertaken when the management feels that the true value of the business is not reflected in the stock price. As such, buybacks act as catalysts to boost stock prices. Investors can participate in share buybacks of fundamentally sound companies and can get handsome returns in relatively short periods.

Read Also: What is a Single Share Buyback Strategy and How to Benefit from it?

What is the need for stock buybacks? What do companies gain by purchasing their shares?

There are several reasons why a company might opt to buy back its shares. Here are the three most important reasons:

1. Buybacks enhance the company’s financial performance as the shares purchased are eventually canceled. This reduces the number of shares outstanding, in turn boosting the company’s earnings per share (EPS). The cascading effect of this event is seen in valuation metrics such as the Price/Earnings ratio which are regularly tracked by investors.
2. Share buybacks are often undertaken when the management feels the true value of the business is not reflected in the stock price. A company seen as purchasing its shares at a premium to market prices is generally viewed in a positive light by investors. As such, buybacks act as catalysts to boost stock prices.
3. Companies also undertake stock buybacks as a measure to distribute excess cash to shareholders. If a company has more cash on hand than it needs to operate its business, it may choose to utilize some of that cash to buy back its shares. With the introduction of the Finance Act 2020 and the taxability of dividends in the hands of shareholders, investors have started preferring buybacks given the tax benefits associated with this route.

Investors can participate in share buybacks of fundamentally sound companies and can get handsome returns in a short span of time.

This is a developing page of buyback news. Please share your feedback in the comments section and let us know what else you would like us to cover in share buybacks.

Share Buybacks FAQs