Wipro Limited (BSE: 507685, NSE: WIPRO) is a major global information technology, consulting, and business process services company that was founded in India. The board of IT services company Wipro today approved a buyback proposal worth ₹9,500 crores. Recently TCS has also announced its share buyback worth Rs. 16,000 Crores
Wipro plans to purchase of 23.75 crore shares at ₹400 per equity share for an aggregate amount not exceeding ₹9,500 crores. Wipro had last year announced a share buyback of up to 33.3 crore shares at ₹325 per share, aggregating ₹10,500 crores, and comprising 3.69% of its total paid-up equity capital.
Wipro Buyback 2020 Details & Review
| Wipro Buyback Record Date | 11th December 2020 |
| Buyback Type | Tender offer |
| Buyback Offer Amount: | ₹ 9500 Crores |
| Date of Board Meeting Approval | Oct 13 2020 |
| Date of Public Announcement | Oct 13 2020 |
| Buyback Offer Size | 4.16% |
| Buyback Number of Shares | 23,75,00,000 |
| Price Type | Tender Offer |
| Face Value | 2 |
| Buyback Price | ₹ 400 Per Equity Share |
Wipro Financial Report
| Particulars(Cr) | Mar-15 | Mar-16 | Mar-17 | Mar-18 | Mar-19 | Mar-20 |
| Sales | 46,951 | 51,244 | 55,448 | 54,487 | 59,019 | 61,138 |
| Expenses | 36,652 | 40,448 | 44,128 | 44,100 | 47,406 | 48,795 |
| Operating Profit | 10,299 | 10,796 | 11,321 | 10,387 | 11,613 | 12,342 |
| OPM % | 22% | 21% | 20% | 19% | 20% | 20% |
| Other Income | 2,450 | 2,752 | 2,623 | 2,550 | 2,614 | 2,728 |
| Interest | 350 | 558 | 594 | 583 | 738 | 733 |
| Depreciation | 1,175 | 1,496 | 2,310 | 2,112 | 1,947 | 2,086 |
| Profit before tax | 11,224 | 11,494 | 11,039 | 10,242 | 11,542 | 12,252 |
| Tax % | 22% | 22% | 23% | 22% | 22% | 20% |
| Net Profit | 8,661 | 8,908 | 8,493 | 8,003 | 9,004 | 9,722 |
| EPS in Rs | 12.26 | 13.52 | 13.1 | 13.27 | 14.92 | 17.02 |
| Dividend Payout % | 34% | 17% | 6% | 6% | 7% | 6% |
Wipro Buyback FAQs
What is Wipro Buyback Price?
The company has fixed the Wipro Buyback price at ₹400.
What is the Wipro Buyback 2020 Record Date?
The company has announced 11th December 2020 as the Record Date.
