Wipro Limited has announced a major share buyback proposal worth up to ₹15,000 crore, offering ₹250 per equity share to eligible shareholders. The move signals the company’s intent to return capital to investors while enhancing shareholder value.
The proposed buyback involves up to 60 crore fully paid-up equity shares with a face value of ₹2 each, representing around 5.7% of the company’s total paid-up equity share capital. The buyback will be carried out through the tender offer route, allowing existing shareholders to tender their shares on a proportionate basis.
The offer will be available to shareholders as on the record date, which will be announced later. Notably, members of the promoter and promoter group have indicated their intention to participate in the buyback, a factor that often draws attention from market participants.
The buyback price of ₹250 per share is expected to be closely tracked by investors, as it may provide a premium over the prevailing market price and influence short-term stock movement.
The company clarified that the total buyback size excludes transaction-related expenses such as brokerage, taxes, regulatory fees, and other incidental costs associated with the process.
The proposal is subject to shareholder approval via a special resolution, which will be conducted through a postal ballot. Detailed timelines, including the record date and tendering period, will be communicated in due course through an official public announcement and letter of offer.
To streamline execution, Wipro has constituted a dedicated committee to oversee and implement the buyback process, ensuring compliance with regulatory requirements under SEBI’s Buyback Regulations and the Companies Act, 2013.