Wipro Limited has announced a share buyback programme involving up to 60,00,00,000 equity shares at Rs 250 per share. The buyback, valued at Rs 15,000 crore, will be executed through a tender offer process. Shareholders holding equity shares as of the Record Date of June 5, 2026, will be eligible to participate proportionately.
The company’s board approved the buyback on May 21, 2026, following shareholder approval. The tender offer will commence after the Record Date, with final purchases dependent on shareholder participation. The buyback size represents 5.72% of the company’s total equity share capital and 24.99% of its free reserves as of March 31, 2026.
Holders of American Depositary Shares (ADSs) must convert to direct equity shares by the Record Date to participate. ADS holders need to establish an Indian brokerage account and withdraw equity shares at least three New York business days prior to June 5, 2026. The Depositary will charge a fee of $0.05 per ADS surrendered for cancellation, regardless of buyback participation.
The buyback price of Rs 250 per share offers a 15.22% premium to the 60-day volume weighted average market price of ADSs on the NYSE. This premium reflects the board’s confidence in the company’s valuation. Shareholders should note that unaccepted shares will remain outstanding with unchanged rights and obligations.
Wipro Limited will dispatch the Letter of Offer to equity shareholders within two working days of the Record Date. The full terms, including eligibility criteria and tender procedures, will be detailed in this document. The public announcement and related notices are available on the company’s website at www.wipro.com.
The buyback does not include transaction costs such as brokerage, taxes, or legal fees. The company has reserved Rs 15,000 crore for the programme, ensuring sufficient funds for the proposed share repurchase. This initiative aligns with Wipro’s strategy to optimise capital structure and enhance shareholder value.
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.