The April 16 meeting will also see the Bengaluru-based information technology services company announce its fourth-quarter results.
The development is largely on expected lines, with brokerage firm Investec estimating a potential buyback size of around ₹16,000 crore.
Buyback history
Wipro last undertook a buyback in June 2023, amounting to ₹12,000 crore. The company repurchased 26.96 crore equity shares, or 4.91% of its total equity, at ₹445 per share between June 22 and June 30. The price is not adjusted for the 1:1 bonus issue announced in December 2024.
Prior to that, the company had carried out a ₹9,500 crore buyback in October 2020.
| Date | Buyback Size |
|---|---|
| April 2016 | ₹2,500 cr |
| July 2017 | ₹11,000 cr |
| April 2019 | ₹10,500 cr |
| Oct 2020 | ₹9,500 cr |
| June 2023 | ₹12,000 cr |
According to Investec, Wipro currently holds nearly ₹41,000 crore in net cash, compared to about ₹28,000 crore at the time of its previous buyback.
Assuming a similar deployment of 20.4% of shareholders’ funds, the company could undertake a buyback of around ₹16,000 crore.
In its third-quarter earnings commentary, Wipro’s management had reiterated that share buybacks would remain a key mechanism for returning cash to shareholders.
It also indicated that earlier statutory hurdles, including approvals from the National Company Law Tribunal and pending subsidiary mergers, have now been resolved.
Shares of Wipro listed in the US ended largely unchanged, recovering from intraday lows, and were up about 2% in extended trading.
