newsio aggregates and links to original sources. We do not own the original images or content. If you believe content infringes on intellectual property rights, contact us — it will be removed at first notice.
business/news//Moneycontrol
Wipro stock fell 4.1 percent to Rs 195.9 in morning trade.
Wipro shares fell over 4% after the Rs 15,000 crore buyback reached its record date.
KEY POINTS
The buyback involves up to 60 crore shares, about 5.7% of Wipro’s paid-up equity.
The buyback price is Rs 250 per share, a 22.5% premium to the last closing price.
Wipro’s buyback price has not yet been adjusted for the December 2024 1:1 bonus issue.
Promoter and promoter group members intend to participate in this buyback offer.
Shares of Wipro Ltd. declined more than 4 percent on Friday, emerging as the top loser on the Nifty 50 index, after the IT services company's Rs 15,000 crore share buyback entered its record date. Wipro stock fell 4.1 percent to Rs 195.9 in morning trade. The decline came after investors who purchased shares to qualify for the buyback became eligible for the corporate action, reducing the incentive for fresh buying linked to the offer.
June 5 was the record date for Wipro's buyback programme. Investors seeking to participate in the buyback were required to purchase shares by June 4 to ensure the stock was credited to their demat accounts in time under the T+1 settlement cycle.
The company announced the buyback proposal in April. It plans to repurchase shares at Rs 250 apiece through the tender offer route. The buyback price represents a premium of about 22.5 percent to Thursday's closing price of Rs 204.
Share Markets Live Updates | Sensex, Nifty, GIFT Nifty Today
Wipro's board has approved the repurchase of up to 60 crore equity shares, equivalent to nearly 5.7 percent of its paid-up equity capital, with the total buyback size capped at Rs 15,000 crore. The company has not yet announced the opening and closing dates for the tendering process.
All eligible shareholders whose names appear in the company's records as of the record date can participate in the buyback. Wipro has also disclosed that members of its promoter and promoter group intend to tender shares under the offer.
The buyback is Wipro's first since 2023. In its previous exercise, conducted in June 2023, the company repurchased 26.96 crore shares, representing 4.91 percent of its equity base, at Rs 445 per share for a total consideration of Rs 12,000 crore. The buyback price has not been adjusted for the company's 1:1 bonus issue undertaken in December 2024.
Despite the buyback premium, Wipro shares have remained under pressure this year and are down nearly 24 percent so far in 2026. The information technology company commands a market capitalisation of over Rs 2 lakh crore.