On April 27, 2023, Wipro announced a buyback program. The start date for the Wipro repurchase will be announced soon. Wipro’s repurchase deadline is June 16, 2023. To be entitled to the buyback, the investor must purchase Wipro shares before the record date. Wipro’s buyback will take place through the stock exchange’s Tender Offer process. The company’s board of directors authorized the buyback of its fully paid-up equity shares with a face value of 2 each at a price of 445 per Equity Share and for an
Wipro Buyback 2023 has an opening date of June 22nd, 2023, and a closing date of June 30th, 2023.
aggregate amount not exceeding 12,000 crores from the shareholders. Details about Wipro Buyback 2023 can be found below, Wipro Limited is an Indian international enterprise headquartered in Bengaluru, Karnataka. They offer information technology, consulting, and business process outsourcing services. The company has a global presence. They offer services such as digital strategy, business consulting, information technology services, information technology consulting, banking, and retail to industries such as personal care, health care, lighting, furniture, pharmaceuticals, semiconductors, natural resources, and others.
About Wipro Limited
Wipro Limited is an Indian multinational organization headquartered in Bengaluru that offers a wide range of information technology, consulting, and business process services. For a range of industries, including personal care, healthcare, lighting, furniture, pharmaceuticals, semiconductors, natural resources, and more, they provide digital strategy, IT services, IT consulting, business consulting, and other services. The business has a presence abroad and conducts business in numerous nations.
For its remarkable success, the company has received various accolades and recognitions. It received the Silver Class Sustainability Yearbook Award in 2021 and was added to the Dow Jones Sustainability Index (DJSI). Additionally, the business received a Gold sustainability certification from Ecovadis, placing it in the top 95 percent of all businesses evaluated globally in the same industry. The business was also named one of India’s Top 50 Best Companies to Work for in 2022 and honored as a Great Place to Work (GPTW) in India.
Wipro Buyback Dates in 2023
|Buyback Meeting Date:||April 27, 2023|
|Buyback Announcement Date:||April 27, 2023|
|Buyback Record Date:||2023|
|Last Date to Buy Shares:||2023|
|Buyback Open Date:||2023|
|Buyback Close Date:||2023|
|Finalization of Buyback Acceptance:||2023|
Wipro Buyback Offer Details in 2023
26,96,62,921 equity shares from Wipro will be repurchased at a cost of ₹445 each. The maximum repurchase offer size is restricted to ₹12,000 crore.
|Offer Amount:||₹12,000 Crores|
|Number of Shares:||26,96,62,921 Equity Shares|
|Face Value:||₹2 per equity share|
|Buyback Price:||₹445 per equity share|
|Buyback Type:||Tender Offer|
Wipro Buyback Acceptance Ratio in 2023
A total of 449 shares should be purchased by the investor on April 27, 2023, market price of ₹375. ₹2,00,000 divided by the buyback price of ₹445 results in 449 shares.
|Acceptance Ratio||Investment||Shares Buyback||Profit|
Wipro Financial Report
|₹ in Crores||₹ in Crores||₹ in Crores|
Rationale Behind the Wipro Buyback 2023
- Capital Allocation: One of the primary reasons companies undertake buybacks is to efficiently allocate their capital. By repurchasing shares, Wipro can utilize its surplus cash to invest in its own stock, potentially increasing the value for shareholders. This strategy is especially attractive when a company believes its stock is undervalued in the market.
- Enhancing Shareholder Value: Share buybacks can be an effective means to enhance shareholder value. By reducing the number of shares outstanding, the earnings per share (EPS) can increase, potentially leading to higher stock prices. This can benefit shareholders who hold onto their shares, as their ownership stake in the company becomes relatively larger.
- Tax-Efficiency: Compared to dividends, buybacks can be more tax-efficient for shareholders. In many countries, including India, capital gains from buybacks are taxed at a lower rate compared to dividend income. This tax advantage can make buybacks an attractive option for shareholders, particularly for those seeking to optimize their tax liabilities.
- Returning Excess Cash: If a company has accumulated excess cash on its balance sheet, a buyback can serve as a prudent way to return that cash to shareholders. By repurchasing shares, the company can effectively utilize its cash reserves without engaging in risky investments or acquisitions.
How to Participate in Wipro Buyback in 2023
Investors who have Wipro shares in their Demat account as of the To be updated soon are eligible for the Buyback program.
According to the opening form, eligible shareholders can take part in the Wipro Buyback 2023 scheme by selling their shares.
According to the shares that the business has Wiproepted as part of the Wipro Buyback program, the payment would be made.
Wipro Buyback 2023 FAQs
Q1. When is Wipro Buyback 2023 Record Date?
Ans. Wipro buyback 2023 record date is Jun 16, 2023.
Q2. When is Wipro Buyback 2023 Open Date?
Ans. The Wipro buyback in 2023 open date is Jun 22, 2023.
Q3. What is Wipro’s Buyback 2023 Price?
Ans. The company has fixed the price at ₹445 per share.
Q4. How to apply for Wipro Buyback 2023?
Ans. As per the record date you need to have Wipro shares in your Demat Account. You can participate in buyback after having the stock in your Account.
Q5. What is the Wipro Buyback issue size?
Ans. The Wipro Buyback issue size is 269,662,921.00 equity shares at a cost of ₹445 per, totalling Rs. 12,000.00 Crores.
Q6. Is the Wipro buyback in 2023 a wise investment?
Ans. The choice to take part in the Wipro buyback in 2023 relies on personal investment objectives and plans. A financial professional should be consulted before making any investing decisions.