Wipro Shares Drop 5% on Buyback Record Date
Shares of Wipro Limited slid on Friday, touching a day low of Rs 188.15 on the NSE, as the stock entered its buyback record date.
Stocks frequently see volatility around record dates as investors reposition holdings once the eligibility cut-off passes.
Wipro’s board approved the buyback in April 2026 at Rs 250 per share through the tender offer route. The company plans to buy back up to 60 crore equity shares, about 5.7% of its paid-up capital, with the total size capped at Rs 15,000 crore.
CFO Aparna Iyer described it as the company’s largest buyback ever during the Q4 FY26 earnings call. All shareholders in Wipro’s records as of today’s record date are eligible to tender their shares. Members of the promoter and promoter group have told exchanges they plan to participate.
A committee has been formed to manage the tendering process, though the opening and closing dates for the offer have not yet been disclosed.
This is Wipro’s first buyback since June 2023. In that exercise, the company repurchased 26.96 crore shares at Rs 445 per share, distributing Rs 12,000 crore to shareholders in total.
That price has not been restated for the 1:1 bonus issue Wipro carried out in December 2024.
The Rs 250 buyback price carries a premium of around 22.4% to Thursday’s close of Rs 204.32. Even so, the stock has had a difficult year.
At 10:02 am IST on 5 June, Wipro shares were changing hands at Rs 196.09 on the NSE, down about 24% so far in 2026.
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