Wipro has announced share buyback worth ₹15,000 crore. The company will buy back 60 crore shares (5.7% equity) at ₹250 per share. Also, the company has estimated growth of -2% to 0% in Q1.
New Delhi: The country’s well-known IT company Wipro Ltd. has made a big announcement on Thursday (April 16). The company has announced share buyback of ₹15,000 crore after almost three years. Under this buyback, the company will buy back 60 crore equity shares, which is 5.7% of the total equity share capital of the company.
The company will give a price of ₹ 250 for each share. This price is about 19% more than the share price at the time of market closing on Thursday, which is also called premium. This buyback will be through ‘Tender Offer’. The promoters and promoter group of the company have also expressed their desire to participate in it. At present, the promoters’ stake in the company is 72.6%.
Earlier, Wipro had done buyback in June 2023. At that time the company had bought back 4.91% shares for ₹12,000 crore, for which the price was fixed at ₹445 per share. The company had issued bonus shares of 1:1 in December 2024, after which this change has come in the current prices.
How were the fourth quarter results?
Along with share buyback, Wipro has also released its fourth quarter results. The company has estimated that its growth in the first quarter of the financial year 2027 could be between -2% to 0%. This estimate is in line with the expectations of big brokerage firms like CLSA, JPMorgan and Morgan Stanley. On Thursday, Wipro shares closed at ₹210.15 with a marginal gain of 0.19%. However, if we talk about this year, Wipro shares have seen an overall decline of more than 20%.