On December 19, 2022, announces a share repurchase program. Under the offer, the company will repurchase up to 600,000 shares, representing 1.14% of its issued share capital, for INR 10,200 million worth of its shares. The shares will be repurchased at a price not more than INR 1,700 per share.

The offer is subject to the approval of the shareholders and other applicable statutory approvals. Buyback shall be made out of the company's current surplus and/or cash balances and/or current investments and/or cash available from internal resources of the company (and not from any borrowed funds). The purpose of the program is to return surplus funds to its equity shareholders, which are over and above its capital requirements and strategic plans in the medium term, in an expedient, efficient and cost effective manner and improving financial ratios like earnings per share, return on capital employed and return on equity, by reducing the equity base of the company.

The program is valid for 1 year from the date of special resolution approving the buyback till June 2, 2023. As of December 17, 2022, the company had 5,24,84,535 shares issued and outstanding.