Wipro shares fall 6% on record date for share buyback — All you need to know

Shares of Wipro

Ltd. opened as much as 6% lower on Friday, June 5, as the IT services major's ₹15,000 crore share buyback entered its record date, marking the company's largest buyback programme in nearly three years.

Investors seeking to participate in the buyback were required to purchase Wipro shares by Thursday, June 4, in order to qualify for the corporate action. Under the record date mechanism, only shareholders whose names appear in the company's records and who hold shares in their demat accounts as of June 5 will be eligible to tender shares.

In line with SEBI's T+1 settlement cycle, investors needed to acquire the stock at least one trading session before the record date to ensure the shares were credited to their demat accounts in time. As a result, June 4 was the final day to buy Wipro shares and remain eligible for the buyback.

The company had announced the buyback proposal in April, offering to repurchase shares at ₹250 apiece, representing a premium of about 22.5% to Thursday's closing price of ₹204.

Wipro's board has approved the repurchase of up to 60 crore equity shares, equivalent to nearly 5.7% of its paid-up equity capital, with the total buyback size capped at ₹15,000 crore.

The buyback will be conducted through the tender offer route. All eligible shareholders on the record date, including those who received shares following the cancellation of American Depository Receipts (ADRs), can participate in the process.

The company has also disclosed that members of the promoter and promoter group intend to tender shares under the buyback.

While the record date has now arrived, the company is yet to announce the opening and closing dates for the tendering process.

This is Wipro's first buyback announcement since 2023. In its previous buyback exercise, conducted between June 22 and June 30, 2023, the company repurchased 26.96 crore shares, representing 4.91% of its equity base, at a price of ₹445 per share, for a total consideration of ₹12,000 crore. The buyback price has not been adjusted for the 1:1 bonus issue undertaken by the company in December 2024.

Wipro shares ended Thursday's session marginally lower at ₹204 apiece and remain down nearly 24% so far in 2026.