Wipro Buyback Offer- June 2017

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Posted on 2017-07-23T03:47:39+00:00
by Vijay Jain

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Incorporated in 1945, Wipro Limited (Wipro) is a global information technology (IT) services provider, headquarter in Bangalore, Karanataka, India. Wipor started its major IT business in 1995 and become India's 3rd largest IT service company. Wipro IT operation majorly operates in two segments: IT Services and IT Products.

The Company's IT Services business provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development and hardware and software design.

The IT Products segment provides a range of third-party IT products, which allows it to offer IT system integration services. Its products include computing, Platforms and Storage, Networking Solutions, Enterprise Information Security, and software products, including databases and operating systems. The Company is a reseller of third-party enterprise products through its direct sales force.

They also operate in Consumer Products, Lighting, Furniture, Eco Energy, Water treatment and Hydraulic business.

What is the Wipro share buyback offer?

July 17,2017 - Wipro Board is going to consider a share buyback in board meeting which is planned on July 20,2017.

July 20,2017 - Wipro Board has approved a proposal for buyback of up to 343.75 million shares at Rs 320 per share, aggregating Rs 11,000 crore.

As on March 2017, Wipro had cash and cash equivalents totalling Rs 5,271 crore ($813 million) on its books.

Wipro Share Holding Pattern as of June 2017
Holding Type In %
Promoter-Foreign 0.00
Promoter-Indian 73.18
Non-Promoter-Institutions 16.73
Non-Promoter-Non-Institutions 9.52

Detail Article on Benefit from buyback offer >> Read

Wipro Buyback Details

  »»   Total Share Capital: 139,366.50 Cr
  »»   Face Value: 2 Per Equity Share
  »»   Buyback Offer Amount: 11,000 Cr
  »»   Buyback Offer Size (In %): 7.90 %
  »»   Buyback Number of Shares: 3437.5 Lakh
  »»   Buyback Price: Rs 320
  »»   Promoters and Promoter Group participation:Yes
  »»   Buyback type:Tender Offer
  »»   Can I Invest today to participate in Wipro buyback offer :Yes

Wipro Buyback Important Dates

Wipro buyback offer important dates
Buyback Activity Date
Board Meeting for Buyback proposal 20th Jul 2017
Buyback Approval date 20th Jul 2017
Public Announcement of Buyback 20th Jul 2017
Record Date TBD
Buyback opens on/Buyback Opening Date TBD
Buyback closes on/Buyback Closing Date TBD
Cut-off date to receive completed tender forms by Registrar TBD
Cut-off date for verification by the Registrar TBD
Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar
Last date of settlement of bids on the stock exchange TBD
Last date to return unaccepted shares by Registrar TBD
Last date of extinguishment of Equity Shares TBD

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How much I can make with Wipro buyback offer?

Let's assume if you have Wipro shares at Rs 270 and buyback offer price is Rs 320, you can get Rs 50 per accepted share. If you hold 741 shares of Wipro and if proportionate acceptance is between 33% and 50%, in such case you are eligible to sell your 245 to 370 shares with the gain from buyback of Rs 12250 to Rs 18500.

The percentage of proportionate acceptance varies from company to company. This percentage can be also 100 % which means that company buys all of your shares.

Wipro Buyback offer calculation for investment of Rs 2,00,000 @270 per share
% Share Accepted No of Shared Accepted Gain from Buyback Offer
33% 245 Rs 12250
50% 370 Rs 18500
75% 556 Rs 27800
100% 741 Rs 37050

Record Date for Wipro Buyback offer - TBD

To participate in Wipro buyback offer, record date is TBD. Which means you should hold the Wipro share in your demat account by closing session of TBD. Share purchased on and before (TBD) - 2 business days will be available in your demat account by TBD.

How many Wipro share are eligible for buyback?

Retail Investor can sell up to Rs 200,000 worth of shares.

When I need to offer my buyback share?

Buyback opening date for Wipro Shares: TBD

Buyback closing date for Wipro Shares: TBD

This is the window when you need to submit your application for proposal for share buyback. If you are submitting tender forms or submitting physical share certificates, it must reach to registrar by TBD.

When I will know how much shares accepted in Wipro buyback offer?

As this is a buyback tender offer, shares are accepted in proportionate basis. Proportionate acceptance / rejection will be returned back to the eligible shareholders directly by the Registrar on or before TBD.

When and how will I get money for accepted shares of Wipro buyback?

Money will be directly depositedin your registered bank account. Usually money will be deposited on and after TBD, which is last date of settlement of bids on the Stock Exchange.

In case of physical share holding, you will get a cheque.

What will happen to rejected shares of Wipro buyback offer?

Rejected shares will be available in your demat account for trading in open market by TBD.

Company Contact Information

Wipro Limited
Doddakannelli, Sarjapur Road
Bangalore - 560 035

Registrar Contact Information

JM Financial Institutional Securities Limited,
7th Floor, Cnergy,
Appasaheb Marathe Marg,
Prabhadevi, Mumbai 400 025
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