Wipro Limited has announced a buyback offer for up to 60,00,00,000 (Sixty Crore) fully paid-up equity shares at Rs 250 per share, amounting to Rs 15,000 crore. The offer represents 5.72% of the company's total equity shares and will be executed via a tender offer process. Shareholders holding equity shares as of June 5, 2026, the record date, will be eligible to participate proportionately.
The buyback price of Rs 250 per share reflects a 15.22% premium to the 60-day volume weighted average market price of ADSs on the NYSE. This premium the company's confidence in its valuation ahead of the buyback announcement dated May 25, 2026. The funds for the buyback will be sourced from the company's free reserves and retained earnings.
Holders of American Depositary Shares (ADSs) must cancel their ADSs by June 2, 2026, to receive the underlying equity shares for tendering. This requires establishing an Indian depository receipt (DR) type demat account before the record date. The process involves surrendering ADSs to JPMorgan Chase Bank, N.A. as the depositary, with no assistance provided for account setup or compliance.
The buyback terms exclude transaction costs such as brokerage, taxes, and legal fees. Selling shareholders will bear all associated expenses, including securities transaction tax and goods and services tax. The company has emphasized transparency by publishing detailed terms on its website and SEC filings for U.S.-based investors.
Wipro Limited, a leader in AI-powered technology services, stated the buyback aligns with its strategy to return value to shareholders. The company's 240,000-employee workforce and global presence across 65 countries support its focus on digital transformation solutions. The buyback size does not exceed 25% of the company's paid-up equity share capital or free reserves.
Further details, including the letter of offer and tax implications, will be available on Wipro's investor relations portal and the SEC website. The company advises shareholders to consult financial and tax advisors before participating, particularly regarding foreign exchange rates and U.S. tax consequences for ADS holders.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.