Wipro is in the spotlight after the company released the latest updates regarding its proposed share buyback, including the Letter of Offer and Tender Form for eligible shareholders.
The company plans to repurchase up to 60 crore fully paid-up equity shares at a fixed price of Rs 250 per share. According to the Letter of Offer, the buyback size is capped at Rs 15,000 crore and will be carried out through the tender offer route.
The information technology major had announced one of the largest buyback programmes this year. Let’s take a look at the timelines, participation rules and the process that shareholders need to follow. .
Wipro buyback plan
According to the Letter of Offer, Wipro will buy back up to 60,00,00,000 equity shares. The company has set a face value of Rs 2 each.
Furthermore, the buyback price has been fixed at Rs 250 per share. The offer is open to shareholders whose names appeared on the company’s records as of June 5, 2026, which has been set as the record date.
As per the regulatory filing, the company stated in the Letter of Offer that the buyback represents 5.72% of its total paid-up equity share capital. Moreover, it will be conducted on a proportionate basis through the tender offer mechanism.
Key dates every shareholder needs to watch
As per the exchange filing, the buyback process is scheduled to begin on June 11 and will close on June 17. Shareholders who are eligible can tender their shares during this five-working-day window.
According to the official schedule, verification of bids is expected to be completed by June 19, while settlement and payment to successful shareholders are scheduled by June 24, 2026. The extinguishment of accepted shares is expected to be completed by July 6, 2026.
The company in its exchange filing noted, “The Buyback will open on June 11 and close on June 17.”
What does the letter of offer say?
The latest communication from Wipro informed stock exchanges that the Letter of Offer and Tender Form have been dispatched and made available to shareholders.
In its filing, the company stated, “Updates regarding the buyback of up to 60,00,00,000 (Sixty Crore) fully paid up Equity Shares of the Company of face value of Rs 2 each at a price of Rs 250 per Equity Share.”
How can shareholders participate?
According to the offer document, investors holding shares in dematerialised form can participate through their registered stock brokers.
In addition to this, shareholders holding physical shares must submit the required documents along with the Tender Form before the prescribed deadline.
The company has also clarified that shareholders who do not receive the Letter of Offer can still participate. This will be possible by submitting the required details and further following the prescribed process.
It is also important to note that investors can tender shares equal to their buyback entitlement. Similarly, it can even offer additional shares beyond their entitlement, provided the total does not exceed their holdings as of the record date.
Why the buyback matters
Buybacks are often watched closely. This is because it allows companies to return cash to shareholders by purchasing their own shares.
In Wipro’s case, the proposed programme is among the largest corporate actions undertaken by the company in recent years.
According to the Letter of Offer, “The Equity Shares accepted under the Buyback shall not exceed 60,00,00,000 Equity Shares or Rs 15,000 crore, whichever is lower.”
Conclusion
However, investors must remember that the shares that do not get accepted would remain in the investor’s account. Based on the price action after the buyback close, their net value may see relative gain or loss.