Posted on 2017-07-23T03:47:39+00:00
by Vijay Jain
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.
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.
|Holding Type||In %|
Detail Article on Benefit from buyback offer >> Read
»» 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
|Board Meeting for Buyback proposal||20th Jul 2017|
|Buyback Approval date||20th Jul 2017|
|Public Announcement of Buyback||20th Jul 2017|
|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||TBD|
|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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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.
|% Share Accepted||No of Shared Accepted||Gain from Buyback Offer|
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.
Retail Investor can sell up to Rs 200,000 worth of shares.
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.
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.
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.
Rejected shares will be available in your demat account for trading in open market by TBD.
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