Last updated on June 28, 2023
Wipro Buyback 2023 description – Wipro is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging its holistic portfolio of capabilities in consulting, design, engineering, and operations, the company helps clients realize their ambitions and build future-ready, sustainable businesses.
The company’s recognized capabilities across 26 industry segments in digital strategy, Wipro FullStride cloud services, engineering, AI, and cybersecurity, have established it as a trusted leader in orchestrating transformation.
Wipro is the fourth largest Indian player in the global IT services industry behind TCS, Infosys, and HCL Technologies. It has over 250,000 dedicated employees serving clients across 66 countries.
Wipro Share Buyback 2023 Details
| Wipro Buyback Dates | 22 – 30 June 2023 |
| Wipro Buyback Price | INR 445 per share |
| Market Price on Buyback Approval | INR 374.35 per share |
| Buyback Premium on Market Price | 18.87% |
| Buyback Offer Size (Shares) | 26,96,62,921 share |
| Buyback Offer Size (Amount) | INR 12,000 crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 2 per share |
| Listing At | BSE, NSE |
Wipro Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 23 April 2023 |
| Buyback Approval Date | 27 April 2023 |
| Public Announcement of Buyback | 5 June 2023 |
| Wipro Buyback Record Date | 16 June 2023 |
| Buyback Opening Date | 22 June 2023 |
| Buyback Closing Date | 30 June 2023 |
| Cut-off Date to receive completed tender forms by Registrar | 30 June 2023 |
| Verification Date by the Registrar | 4 July 2023 |
| Return of unaccepted shares by Registrar | 7 July 2023 |
| Extinguishment of accepted shares | 18 July 2023 |
Wipro Buyback 2023 Documents
Letter of Offer
Draft Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
Wipro Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (less than INR 2 Lakh on record date) | 62/265 | 23.40 |
| General category (for all other Eligible Shareholders) | 26/603 | 4.31 |
Small Shareholder is defined as shareholder who holds shares worth less than INR 2,00,000 as on record date.
Wipro Financial Performance
| FY 2020 | FY 2021 | FY 2022 | |
| Revenue | 61,137.6 | 61,943.0 | 79,312.0 |
| Total Expenses | 51,613.6 | 50,435.7 | 66,238.1 |
| Net income | 9,768.9 | 10,868 | 12,237.7 |
Calculation of Investment in Buyback
| Maximum market value of a share holder as on record date | INR 2,00,000 |
| Buyback price per share | INR 445 |
| Maximum shares for small shareholder (2,00,000/445) | 450 shares * |
| Closing price of stock as on 27 April 2023 | INR 374.35** |
| Maximum amount invested in buyback (INR 374.35 x 450 shares) | INR 1,68,457.5 |
** For simplicity, we have considered price on buyback approval date
Wipro Buyback Profit Guidance
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 450 | 106 | 106 (100%) | 7,488.9 | 4.45 |
| 450 | 106 | 212 (200%) | 14,977.8 | 8.89 |
| 450 | 106 | 318 (300%) | 22,466.7 | 13.34 |
Registrar of Wipro Buyback 2023
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Phone:Â +914067162222
Email:Â [email protected]
Website: www.kfintech.com
Manager of Wipro Buyback 2023
JM FINANCIAL LIMITED
7th Floor, Cnergy, Appasaheb Marathe Marg,
Prabhadevi Mumbai – 400 025
Phone:Â +91 22 6630 3030
Email:Â [email protected]
Website: www.jmfl.com
Process to Participate in Wipro Buyback
All eligible shareholders of the company who own shares in the physical or demat form on the record date may participate in the buyback offer through their stockbroker. The eligible shareholders who hold the shares in demat form must notify their brokers of the details of the equity shares that they wish to tender in the buyback offer.
The shareholder must transfer the tendered shares to the clearing corporation’s Special account. In turn, the broker would place a buyback order on the stock exchange.
The eligible shareholders who own the shares in physical form must present their broker with the original share certificates and supporting documents. After document verification is complete, the broker places an order on the stock exchange and submits the original share certificate and TRS (Transaction Registration Slip) to the registrar.
Frequently Asked Questions
What are Wipro buyback dates?
Wipro share buyback opens on 22 June 2023 and closes on 30 June 2023.
Which type of buyback is Wipro buyback offer?
Wipro buyback is a tender offer.
What is Wipro buyback price?
Wipro’s buyback price is INR 445 per share.
What is Wipro buyback record date?
Wipro’s buyback record date is 16 June 2023.
How to participate in Wipro share buyback?
Wipro share buyback will be conducted through the tender process and investors who hold the shares on record date can place orders through their broker.
