Wipro Stock Takes 4% Hit, Tops Nifty Losers List Amid Share Buyback Announcement

Wipro Shares Decline by 4 Percent After Record Date for Buyback Programme

Shares of Wipro Ltd. took a hit on Friday, falling 4.1 percent to Rs 195.9 in morning trade, as the company's Rs 15,000 crore share buyback entered its record date. This decline marked Wipro as the top loser on the Nifty 50 index.

The record date for Wipro's buyback programme was June 5, with investors who purchased shares by June 4 becoming eligible for the corporate action. As a result, the incentive for fresh buying linked to the offer was reduced. This development came as no surprise, as investors who had purchased shares to qualify for the buyback would have been able to sell them at a premium.

The company had announced the buyback proposal in April, with plans to repurchase shares at Rs 250 apiece through the tender offer route. This price represents a premium of about 22.5 percent to Thursday's closing price of Rs 204. Wipro's board has approved the repurchase of up to 60 crore equity shares, equivalent to nearly 5.7 percent of its paid-up equity capital, with the total buyback size capped at Rs 15,000 crore.

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Wipro has not yet announced the opening and closing dates for the tendering process. However, all eligible shareholders whose names appear in the company's records as of the record date can participate in the buyback. Interestingly, members of the company's promoter and promoter group intend to tender shares under the offer.

This buyback marks Wipro's first since 2023, with the company's previous exercise conducted in June 2023 resulting in the repurchase of 26.96 crore shares, representing 4.91 percent of its equity base, at Rs 445 per share for a total consideration of Rs 12,000 crore. The buyback price has not been adjusted for the company's 1:1 bonus issue undertaken in December 2024.

Despite the buyback premium, Wipro shares have remained under pressure this year and are down nearly 24 percent so far in 2026. The information technology company commands a market capitalisation of over Rs 2 lakh crore.