Wipro Ltd has announced a Rs 12,000 crore buyback, joining its larger peer Tata Consultancy Services Ltd in rewarding shareholders.
The board has approved a proposal to buy back 269,662,921 shares, or 4.91% of the equity, at Rs 445 apiece, Wipro said in an exchange filing.
The buyback price is at a premium of 19% to Tuesday’s closing stock price.
Wipro Buyback 2023 Details
| Buyback Type: | Tender offer |
| Buyback Record Date: | 2023 |
| Buyback Opening Date: | 2023 |
| Buyback Closing Date: | 2023 |
| Buyback Offer Amount: | ₹ 12000 Crores |
| Date of Public Announcement: | 27-APR-2023 |
| Buyback Offer Size: | 4.91% |
| Buyback Number of Shares: | 269,662,921 |
| Price Type: | Tender Offer |
| FV: | 2 |
| Buyback Price: | ₹ 445 Per Equity Share |
Wipro Buyback 2023 FAQs:
- When is Wipro Buyback Record Date?
Wipro buyback 2023 record date will be -.
- When is Wipro Buyback Announcement Date?
Wipro buyback 2023 announcement date is -.
- What is Wipro Buyback Price?
The company has fixed the price at ₹445 Per Equity Share.
- How can I get Wipro’s buyback?
As per the Wipro record date (11.12.2020) you need to have Wipro shares in your Demat account. You can participate in buyback after having the stock in your account.
Once you have shares in Demat, you can participate in the buyback process which is opening from [-], by selling your shares through your broker on NSE or BSE. Then on [-], the payment will be given to you for accepted shares and unaccepted shares will be returned to your Demat account.
- How much I can make with the Wipro buyback offer?
It all depends on the acceptance ratio which usually announces with a Letter of Offer.
The percentage of proportionate acceptance varies from company to company. This percentage can be also 100% which means that the company buys all of your shares.
- How to Participate in the Wipro buyback offer?
Steps to participate in Wipro buyback:
On Record date (-) you must have a share of Wipro in your Demat account. Depositing of shares in your DP account usually takes T+2 days, so you need to plan your buying accordingly.
After that company announces the buyback open and close window, so you need to tender your share in the buyback process. You can do this online or contact your broker to tender your share in the buyback, so he can place a request on your behalf.
The next step is with the registrar – depend on the buyback acceptance ratio, your shares will be sold in the buyback process and the fund will directly be debited in your bank account. Any rejected share will be revert to your Demat account which you can sell in the open market or hold for long-term gain.
- How many Wipro shares are eligible for buyback?
Shareholders who hold less than 2 lakh worth of shares are considered in the Retail Category. All others will consider in General Category. The last trading price on the record date will be used to calculate the eligibility criteria.