With an offer of ₹250 per share, Wipro has authorized a ₹15,000 crore share repurchase, which is 19% more than its last closing price. For the first time in almost three years, the business has announced a buyback.
Up to 60 crore shares, or 5.7% of the total paid-up equity capital, have been approved for repurchase by the board. Based on the record date, which will be published soon, qualified shareholders will be able to participate in the repurchase through the tender mechanism. Additionally, promoters have stated that they plan to participate in the deal.
Wipro’s Q4 FY26 numbers were released at the same time as the announcement. While revenue increased 8% to ₹24,236 crore, the company’s consolidated net profit decreased 2% year over year to ₹3,502 crore. Revenues in its main IT services business, however, increased just slightly, indicating muted growth.
In the face of a difficult demand environment for IT services, the buyback is anticipated to maximize capital allocation and increase shareholder value.
Source – The Economic Times
