Newspaper Advertisement - Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015
WIPRO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Wipro Ltd has announced a major share buyback program worth up to ₹15,000 crore (₹15,0000,00,00,000). The company will buyback up to 60 crore fully paid-up equity shares at ₹250 per share in cash through the tender offer process using stock exchange mechanism. Promoters and the promoter group (holding 72.62% stake) have indicated their intention to participate and tender shares. The buyback size represents 24.99% of paid-up capital and free reserves, within the regulatory limit of 25%. The buyback price of ₹250 represents a 16.3% premium over the volume-weighted average market price and 311.77% premium over book value per share.
This buyback will return cash to shareholders and is expected to improve earnings per share by reducing equity base. Promoters tendering 98.30 crore shares (7.44 crore from the group) indicates significant insider participation. Shareholders should note the record date and tender process deadlines.