Tender Offer | ₹12,000.00 Crores | Listed at BSE, NSE | Thu, Jun 22, 2023 - Fri, Jun 30, 2023
Wipro Ltd. Buyback is a tender offer for the repurchase of up to 26.97 crore equity shares at a buyback price of ₹445 per share with a face value of ₹2 per share, aggregating to ₹12,000.00 crores.
The record date for determining eligible shareholders is Jun 16, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Jun 22, 2023 and closes on Jun 30, 2023, with the last date for receipt of tender forms being Jun 29, 2023.
The finalisation of buyback acceptance is expected on Jul 5, 2023, followed by settlement of bids on Jul 6, 2023.
JM Financial Ltd. is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar to the Buyback.
Investors are advised to refer to the Wipro Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Jun 22, 2023
Offer Closing Date
Fri, Jun 30, 2023
Buyback Price
₹445 per share
Record Date
June 16, 2023
| Buyback Date | Share % of paid-up capital bought back | Share Buyback price | Total Buyback Amount | Acceptance Ratio (Retail) |
|---|---|---|---|---|
| Jun 30, 2016 | 4.34% | Rs 625 | Rs 2,500.00 Cr | 100% |
| Dec 13, 2017 | 6.06% | Rs 320 | Rs 11,000.00 Cr | 50% |
| Aug 28, 2019 | 5.35% | Rs 325 | Rs 10,500.00 Cr | 50% |
| Dec 11, 2020 | 4.16% | Rs 400 | Rs 9,500.00 Cr | 33% |
| Jun 30, 2023 | 4.91% | Rs 445 | Rs 12,000.00 Cr | 77% |
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 62 Equity Shares out of every 265 Fully paid-up Equity Shares held on the Record Date. | 40,449,439.00 |
| General Category for all other Eligible Shareholders | 26 Equity Shares out of every 603 Fully paid-up Equity Shares held on the Record Date. | 229,213,482.00 |
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-18 | 76,064.00 | 54,635.90 | 8,008.10 | 48,534.60 | 13,825.90 |
| 31-Mar-19 | 83,317.10 | 58,906.00 | 9,003.10 | 57,075.30 | 9,946.70 |
| 31-Mar-20 | 81,278.90 | 61,340.10 | 9,721.80 | 55,933.30 | 5,886.00 |
| 31-Mar-21 | 82,732.20 | 62,242.50 | 10,794.60 | 55,459.30 | 10,451.40 |
| 31-Mar-22 | 107,505.40 | 79,528.90 | 12,219.10 | 65,867.30 | 17,592.90 |
| 31-Mar-23 | 117,582.20 | 282.20 | 37.60 | ||
| Amount in ₹ Crore | |||||
Incorporated in 1945, Wipro Limited is a technology services and consulting company.
The company began as a vegetable oil manufacturer in Amalner, a small town in western India, and later moved into the manufacture of soaps and other consumer care products. In the early 1980s, the company entered the Indian IT industry by manufacturing and selling minicomputers. In the 1990s, the company began offering software services to global customers.
In 2013, Wipro separated its non-IT diversified businesses and focused entirely on its global information technology business.
The company's services list includes Cloud consulting, Cybersecurity, Data & Analytics, Digital Marketing & Interaction, Engineering Infrastructure, Artificial & Augmented Intelligence, Business Process Outsourcing, and Design & Experience among others.
The company has received many awards and recognitions. It was included in the Dow Jones Sustainability Index (DJSI), received the Silver Class Sustainability Yearbook Award in 2021, received a Gold sustainability rating from Ecovadis with a score in the 95th percentile across all companies in the sector assessed globally, was certified as a Great Place to Work (GPTW) in India in 2022 ranked among Top 50 India's Best Companies to work for 2022, and named as one of India's Best employers Among Nation-Builders 2022 by the GPTW institute, and so on.
Wipro has over 240,000 employees and business partners across 66 countries.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| May-2023 | 405.95 | 379.00 | 389.50 |
| Apr-2023 | 388.00 | 351.85 | 370.38 |
| Mar-2023 | 413.00 | 355.00 | 375.75 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| May-2023 | 406.00 | 379.00 | 389.52 |
| Apr-2023 | 388.00 | 352.00 | 370.40 |
| Mar-2023 | 396.65 | 355.00 | 375.71 |
The Buyback is being undertaken for the following reasons:
Wipro Ltd.
Doddakannelli,
Sarjapur Road
Bengaluru - 560 035
Bengaluru, Karnataka, 560035
The Wipro Buyback 2023 opens on June 22, 2023, and closes on June 30, 2023.
Last date to be eligible to participate in buyback is June 15, 2023.
The Wipro Buyback 2023 is a Tender Offer.
Wipro Buyback 2023 Schedule
| Buyback Opening Date | June 22, 2023 |
| Buyback Closing Date | June 30, 2023 |
| Last Date for receipt of Tender Forms | June 29, 2023 |
| Finalisation of Buyback Acceptance | July 5, 2023 |
| Last Date for settlment of bids | July 6, 2023 |
| Last Date for Extinguishment of Shares | July 17, 2023 |
The Wipro Buyback 2023 is being offered at Rs ₹445 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 62 Equity Shares out of every 265 Fully paid-up Equity Shares held on the Record Date. | 40,449,439.00 |
| General Category for all other Eligible Shareholders | 26 Equity Shares out of every 603 Fully paid-up Equity Shares held on the Record Date. | 229,213,482.00 |
The issue size of Wipro Buyback 2023 is 26,96,62,921 equity shares at ₹445 per share aggregating up to ₹12,000.00 Crores.
The Buyback is being undertaken for the following reasons:
All the eligible Shareholders of the Company holding either Physical Shares or Demat Shares as on the Record Date can participate in the buyback offer through their Stock Broker.
The eligible shareholder holding the shares in Demat form needs to inform their broker the details of the Equity shares they wish to tender in the Buyback Offer. The shareholder needs to transfer the tendered shares to a Special account of the clearing corporation. The broker, in turn, would place an order on the stock exchange for the buyback.
The eligible shareholder holding the shares in physical form needs to approach their broker with original share certificates and supporting documents. Upon completion of document verification, the broker places an order on the stock exchange and submits the original share certificate and TRS to the registrar.
The tender form and TRS are optional in the case of Demat shares but mandatory in the case of physical shares.
The Wipro Buyback 2023 offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.
