Wipro Announces Landmark Rs 15,000 Crore Share Buyback
IT giant Wipro has announced a Rs 15,000 crore share buyback program, aiming to repurchase approximately 5% of its equity. The buyback offers a premium price per share, reflecting Wipro's commitment to returning value to its shareholders. The financial strategy aligns with Wipro's robust fiscal performance in FY26.
- Country:
- India
In a significant financial maneuver, Wipro, the Bengaluru-based IT behemoth, has unveiled a Rs 15,000 crore share repurchase plan. The board excuted this decision, offering Rs 250 per share, notably a 18 percent premium over the previous closing price.
During an earnings call, Wipro's CFO Aparna Iyer highlighted the strategic importance of this buyback, terming it the largest in the company's history. The program aims to purchase back 5.7 percent of the company’s paid-up capital by Q1-27, contingent on shareholder approval.
The company's promoter group has expressed interest in participating in the buyback. This announcement coincided with Wipro's release of its Q4 fiscal results, revealing a steady profit increase and emphasizing its longstanding commitment to shareholder value.
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