Wipro Slides Over 4% As Buyback Record Date Triggers Profit Booking

Shares of Wipro fell more than 4% on June 5, making it the biggest loser on the Nifty 50 index, as the company’s share buyback entered its record date and investors who accumulated shares for eligibility exited their positions.

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The stock declined 4.1% to ₹195.90 during morning trade after June 5 was set as the record date for the company’s ₹15,000 crore buyback programme. Investors intending to participate in the offer were required to purchase shares by June 4 so that holdings would be reflected in their demat accounts under the T+1 settlement mechanism.

The decline follows the completion of the eligibility window for the buyback, which reduced demand linked specifically to the corporate action.

Details Of The Buyback Offer

Wipro announced the buyback proposal in April and plans to repurchase shares through the tender offer route at ₹250 per share. The buyback price represents a premium of about 22.5% over the stock’s closing price of ₹204 on June 4.

The company’s board has approved the repurchase of up to 60 crore equity shares, representing nearly 5.7% of its paid-up equity share capital. The total size of the buyback has been capped at ₹15,000 crore.
While the record date has been completed, Wipro has not yet disclosed the opening and closing dates for the tendering process.

Eligible Shareholders Can Participate

Shareholders whose names appeared in the company’s records as of the record date will be eligible to tender shares under the buyback. The company has also stated that members of its promoter and promoter group intend to participate in the offer.
Under the tender route, eligible shareholders can submit shares during the buyback window, after which the company accepts shares based on entitlement and overall participation levels.

First Buyback Since 2023

This marks Wipro’s first share repurchase programme since 2023. In its previous buyback, completed in June 2023, the company repurchased 26.96 crore shares, accounting for 4.91% of its equity base, at ₹445 per share. The total consideration for that exercise stood at ₹12,000 crore.

The company noted that the earlier buyback price has not been adjusted for the 1:1 bonus issue implemented in December 2024.

Weak Performance

Wipro shares have come under pressure in 2026, despite the discount offered on the buyback. The stock has declined nearly 24% so far this year amid broader weakness in information technology stocks.

At current levels, Wipro commands a market capitalisation of more than ₹2 lakh crore. Market participants will now monitor the announcement of the tendering schedule and participation levels in the buyback programme.