Wipro Share Buyback Details: Wipro has announced a share buyback programme. This is the first Wipro share buyback after a gap of three years.
In an exchange filing, Wipro said that its board has approved a share buyback proposal of Rs 15,000 crore. This is the largest share buyback announcement by Wipro so far. The previous share buyback in 2023 was worth Rs 12,000 crore.
Wipro will conduct the share buyback programme through the tender offer route.
Wipro said that the board has fixed the share buyback price at Rs 250 apiece.
Wipro share price buyback price is at a premium of 19 per cent from Thursday's (April 16) closing price of Rs 210.15.
"The Board of Directors approved the buyback proposal, subject to shareholders' approval through postal ballot, for purchase of up to 60 crore equity shares of Rs 2 each (5.7 per cent of total paid-up equity share capital) on a proportionate basis via tender offer at Rs 250 (USD 2.661) per equity share, for an aggregate amount not exceeding Rs 150 billion (USD 1.6 billion)," the company said.
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Wipro Chief Financial Officer Aparna Iyer said that the share buyback is expected to be completed in Q1 of FY2027, subject to shareholder approval.
Wipro Share Buyback History
This is the fifth share buyback announcement by Wipro so far, according to BSE website. Wipro had first announced a share buyback programme in 2016, followed by 2017, 2019, 2020, and 2023.
