Zomato to Share Customer Phone Numbers with Restaurants: Major Policy Shift Could End Long-Running Dispute

In a significant development for India’s food delivery sector, Zomato is finalizing an agreement with the National Restaurant Association of India (NRAI) to share customer phone numbers with partnered restaurants. The move could finally resolve a dispute that has lasted nearly a decade.

NRAI president Sagar Daryani confirmed that similar discussions have also begun with Zomato’s main competitor, Swiggy. If successful, both platforms may soon allow restaurants direct access to customer contact details for targeted marketing.

What’s Changing for Customers?

Zomato has already started rolling out a new consent feature in its app. Users are now being asked whether they agree to share their phone numbers with restaurants “to directly receive marketing and promotional updates.”

This opt-in approach aims to balance restaurant demands with user privacy concerns. Past attempts to share data reportedly led to negative customer feedback, forcing platforms to mask details such as names and phone numbers.

Why Restaurants Have Been Pushing for Data Access

Restaurant owners argue that understanding customer behavior is essential for efficient operations and marketing. Key insights they seek include:

• Average order value (ticket size)
• Preferred cuisines and menu items
• Peak ordering times and location-based trends
• Frequency of orders from repeat customers

According to NRAI, access to this information helps restaurants optimize menus, run targeted promotions, and reduce reliance on costly platform-driven discounts.

“We don’t want to spam customers. We simply want to make smarter marketing decisions and build direct relationships,” an NRAI representative explained.

Competition Heats Up with New Entrants

The timing of these discussions coincides with the entry of Rapido’s new food delivery service, Ownly. Unlike established players, Ownly has already signed an agreement with NRAI to share customer data from day one – giving it a potential edge with restaurant partners.

Regulatory Backdrop and Ongoing Concerns

The issue of “data masking” has been a central point in complaints filed by NRAI with the Competition Commission of India (CCI). The association has accused major platforms of anti-competitive practices, including high commissions (now often around 30-35%) and withholding valuable consumer insights.

While the CCI case remains pending, the voluntary shift by Zomato signals a possible de-escalation of tensions.

India’s Booming Food Delivery Market

Recent data highlights the massive scale of the sector:

• India’s total food services market: $70 billion in FY25
• Online food delivery segment: $10 billion (14% of total)
• Zomato’s active restaurant partners (Q2 FY26): 327,000
• Swiggy’s active restaurant partners: 264,000

Analysts believe future growth will depend less on acquiring new users and more on increasing order frequency, introducing innovative categories, and improving affordability.

What This Means for Investors and Consumers

For Zomato and Swiggy shareholders, smoother relations with restaurant partners could reduce regulatory risks and commission-related conflicts. Better restaurant satisfaction may also drive higher listings and order volumes over time.

For consumers, the change introduces a choice: opt-in for potentially more personalized offers directly from favorite restaurants, or opt-out and keep interactions limited to the app.

The coming weeks will reveal whether Swiggy follows Zomato’s lead and how enthusiastically customers respond to the new consent prompts.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Infosys Buyback 2025: 8 Key Checks for Investors Before Tendering Shares

Infosys Share Buyback 2025: 8 Smart Checks Before You Tender Your Shares

Search description: Infosys Rs 18,000 crore share buyback: key eligibility rules, tax impact and 8 smart checks before retail investors tender shares.

Labels: Infosys share buyback, stock market news, capital gains tax

Infosys Rs 18,000 Crore Buyback: Why Investors Are Watching Closely

Infosys has launched its biggest-ever share repurchase programme — a Rs 18,000 crore buyback through the tender-offer route at a fixed price of Rs 1,800 per share. The stock opened around Rs 1,555 on the buyback start day, making the offer price look attractive for many investors.

However, the headline premium tells only part of the story. The tax rules around buybacks have changed significantly, and your decision to tender should factor in not just the offer price but also your holding period, tax slab, and overall income level.

Here are eight practical checks to go through before you hit the tender button.

8 Smart Checks Before Tendering Infosys Shares

1. Confirm Your Eligibility First

Only shareholders who held Infosys shares on the record date of November 14, 2025 can participate in this buyback. If you bought the shares after this date, you are not eligible to tender.

Also remember, Infosys is buying back only about 2.4% of its equity. This limited size means that not all the shares you offer are likely to be accepted. Acceptance ratios may be modest, especially for large holdings.

2. Decode the New Buyback Tax Rules

Under the revised tax framework, buyback proceeds are treated as “income from other sources” and taxed at your applicable slab rate, not at capital gains rates.

• The entire buyback amount you receive is taxable, not just the profit portion.
• If you fall in the 30% tax bracket, the tax outgo can substantially erode the premium you earn over your purchase price.

Previously, the company paid a 20% buyback tax (plus surcharge and cess), and the buyback income in the hands of shareholders was tax-exempt. That favourable treatment is no longer available, making personal tax planning crucial.

3. Compare With Selling in the Open Market

Before tendering, compare the post-tax outcome of the buyback with simply selling your shares on the exchange.

• Long-term capital gains (holding > 12 months) on an exchange sale are taxed at an effective rate of about 12.5% (including surcharge and cess).
• Short-term capital gains are taxed at 20%, irrespective of your income slab.

In some cases, especially for investors in higher tax brackets, the open-market sale route may be more tax-efficient than treating the buyback proceeds as slab-rated income.

4. Use Section 87A Rebate Wisely Under Old vs New Regime

Tendering in the buyback can be tax-efficient if your total taxable income remains within the Section 87A rebate limits.

• New tax regime: If your total taxable income, including the amount received from the buyback, does not exceed Rs 12 lakh, you may be able to claim a rebate against the tax payable on this income.
• Old tax regime: If your total income (including income taxed at special rates) does not exceed Rs 5 lakh, you can still claim the rebate even when booking capital gains from a market sale.

Tax efficiency improves if you also have capital gains that can be set off against any capital loss arising from your cost of acquisition when you tender into the buyback.

5. Remember: Your Cost Is Not Deductible From Buyback Income

One of the most important changes is that your purchase price is not deductible when computing tax on buyback income. Instead, your cost becomes a capital loss.

• Short-term capital loss (STCL) from the cost of acquisition can be set off against both short-term and long-term capital gains in the current year.
• Long-term capital loss (LTCL) can be adjusted only against long-term capital gains.
• Unadjusted losses can be carried forward for 8 years, provided you file your income tax return on time.

This makes it critical to map your existing and expected capital gains before deciding how many shares to tender.

6. Plan for TDS and Cash Flow Impact

Infosys will deduct TDS at 10% on buyback proceeds exceeding Rs 1,000. For investors in lower tax slabs, this could eventually lead to a refund, but only after filing the tax return.

In the short term, this TDS can affect your liquidity. If you rely on the full buyback amount for other investments or expenses, factor in the cash flow impact of the tax deduction.

7. Promoters Are Not Participating — What It Means

Infosys’s promoters have chosen not to tender their shares in this buyback. This slightly improves the acceptance prospects for public shareholders because the promoters’ portion of the entitlement effectively gets redistributed.

However, this does not guarantee full acceptance, particularly for larger investors. A concern for many long-term shareholders is that the amended tax rules do not provide grandfathering for shares purchased before the change in law, meaning older holdings are also subject to the new treatment.

8. Check If You Qualify as a “Small Shareholder”

If the market value of your Infosys holding was Rs 2 lakh or less on the record date, you fall into the “small shareholder” category.

This category enjoys a higher reserved quota in the buyback, which can translate into a better acceptance ratio compared with larger shareholders. For retail investors, this improves the chances of tendering a greater proportion of their shares at the buyback price.

Bottom Line for Retail Investors

For retail investors, the decision to tender shares in the Infosys buyback should balance the attractive Rs 1,800 offer price against the new tax treatment, the impact of Section 87A rebates, and your overall capital gains and loss situation.

If your total income is within the rebate threshold under the new regime, tendering can be particularly tax-efficient. On the other hand, investors in higher tax slabs may find that selling on the exchange — and paying capital gains tax — sometimes offers a better post-tax outcome.

Evaluate your eligibility, tax position, cash flow needs, and small shareholder status before making the final call.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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