The company plans to repurchase 60 crore equity shares, representing 5.7% of its total paid-up equity share capital, according to an exchange filing.
The buyback price has been set at ₹250 per share, implying a 19% premium to Wipro’s closing price on Thursday.
The buyback will be carried out through the tender offer route, wherein the company buys back shares from existing shareholders at a fixed price, typically at a premium to the prevailing market price.
Members of the promoter and promoter group of the company have indicated their intention to participate in the proposed buyback.
Based on the December quarter shareholding pattern, promoters of Wipro had a 72.6% stake in the company.
This marks Wipro’s first buyback announcement in nearly three years. The company had last undertaken a buyback in June 2023.
In 2023, Wipro executed a ₹12,000 crore buyback between June 22 and June 30, repurchasing 26.96 crore shares, or 4.91% of its equity, at ₹445 per share. The price is not adjusted for the 1:1 bonus issue announced in December 2024.
Along with the buyback announcement, Wipro also announced its fourth quarter numbers. The company expects to grow between -2% to 0% in constant currency (CC) terms for the first quarter of financial year 2027 on a sequential basis.
The figure is in-line with analyst projections. Brokerage firms like CLSA, JPMorgan, Morgan Stanley, UBS had projected the figure to be a negative 2% to 0%, while Nomura and Citi saw the growth guidance figure between -1% to +1% in CC terms.
Shares of Wipro ended 0.19% higher at ₹210.15 on Thursday. The stock has declined over 20% so far this year.
