Company: INFY
Filing Date: 2025-09-26
Form Type: SC TO-C
Source: 0001193125-25-220644
Chunk: 15

Company: Infosys Ltd
Filing Date: 2025-09-26
Form: SC TO-C
Chunk 15
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 required towards execution of the Company’s strategy; |

| 3. | Funds required for any acquisitions that the Board may approve; |

| 4. | Minimum cash required for contingencies or unforeseen events; |

| 5. | Any other significant developments that require cash investments |

The expected cash generation and strong balance sheet position of the Company allows it to reward its members, while retaining sufficient capital for business requirements. Since 2017, the Company has undertaken multiple buybacks, which, along with regular and special dividends has enabled the Company to distribute the surplus cash to shareholders in a predictable and efficient manner. As of June 30, 2025, the Company had consolidated cash and investments (comprising of cash and cash equivalents, current and non-current investments excluding investments in equity and preference shares and others) of ₹45,204 crore. The Buyback is being undertaken for the following reasons:

| (a) | The Buyback will help the Company to return surplus cash to its members, in line with the stated Capital 
 Allocation Policy;                                                                                       |

| (b) | The Buyback is expected to improve return on equity through distribution of cash and improve earnings per share 
 by reduction in the equity base in the long term, thereby leading to long term increase in members’ value;      |

| (c) | The Buyback gives an option to all the members of the Company as on the Record Date, either to sell their Equity                                                                             
 Shares and receive cash or not to sell their Equity Shares and get a resultant increase in their percentage shareholding in the Company post the Buyback, without additional investment; and |

| (d) | The Buyback, which is being implemented through the Tender Offer route would involve allocating to the Small 
 Shareholders the higher of: (a)                                                                              |

the number of shares as entitled per their shareholding; or (b) 15% of the number of shares
to be bought back, as per Regulation 6 of the Buyback Regulations. The Company believes that this reservation for small shareholders would benefit a large number of the Company’s public shareholders, who would be classified as “Small
Shareholders”.

As per the stated Capital Allocation Policy, “Effective from financial year 2025, the Company expects to continue its policy of returning approximately 85% of the free cash flow cumulatively over a 5-yearperiod through a combination of semi-annual dividends and/or share buyback/ special dividends, subject to applicable laws and requisite approvals, if any”. Under