Wipro Ltd, IT software service company has announced its share buyback for the year 2020. This is the 2nd buyback from Wipro in the last two years. In 2019 also Wipro has done the buyback of Rs 10,500 [email protected] Rs per share.
Current Wipro buyback is bit lesser in size from previous year buyback. The size of buyback is Rs 9,500 Cr. The company has announced to repurchase 23.75 cr shares which are 4.16% of the total paid-up equity @ Rs 400 per share. The price of the buyback is 6.6% premium to the previous closing day of the announcement date.
Below is the complete details about Wipro Ltd Buyback. Record date, buyback open and close dates are announce in below section.
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | Rs 9500 Cr |
| Buyback Number of Shares: | 23.75 Cr |
| Buyback Price: | Rs 400 |
| Buyback Offer Size (In %): | 4.16% |
| Total Share Capital: | Rs 214,739.86 Cr |
| Face Value: | 2 Per Equity Share |
| Buyback Offer Size (In %): | 4.16% |
Can I Invest today to participate in Wipro Ltd buyback offer? No
In this section we have covered all important dates related to Wipro Ltd Buyback. Dates are updated as they are announced. The most noted dates are record date and buyback open and close dates, which one should use to participate in buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Buyback proposal | 13th Oct 2020 |
| Buyback Approval date | 13th Oct 2020 |
| Public Announcement of Buyback | 13th Oct 2020 |
| Record Date | 11th Dec 2020 |
| Buyback opens on/Buyback Opening Date | 29th Dec 2020 |
| Buyback closes on/Buyback Closing Date | 11th Jan 2021 |
| Cut-off date to receive completed tender forms by Registrar | 13th Jan 2021 |
| Cut-off date for verification by the Registrar | 19th Jan 2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar | 19th Jan 2021 |
| Last date of settlement of bids on the stock exchange | 20th Jan 2021 |
| Last date to return unaccepted shares by Registrar | 20th Jan 2021 |
| Last date of extinguishment of Equity Shares | 27th Jan 2021 |
Stock Holding table gives a clear picture on retail investor holdings of Wipro Ltd shares which helps investor to decide on participating in buyback offer. The less number of retail holdings means higher chance of acceptance in buyback under retail category which is equal to higher profit.
| Holding Type | In % |
|---|---|
| Promoter-Foreign | 0.0% |
| Promoter-Indian | 74.02% |
| Non-Promoter-Institutions | 15.46% |
| Non-Promoter-Non-Institutions | 10.52% |
Wipro Ltd Draft Letter of Offer >>Document
Wipro Ltd Letter of Offer >>Document
For Buy back shares holders are divided in 2 categories:
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 29 Equity Share out of every 62 fully paid-up Equity Share held on the Record Date. | 46.80 |
| General Category | 46 Equity Share out of every 1285 fully paid-up Equity Share held on the Record Date. | 3.58% |
Buyback Calculator - Check your Profit/Loss and Breakeven point for left out shares.
The table below will give you a complete dashboard view for all open buyback offer in current market.
| Company Name | Buyback Type | Offer Amount | Buyback Price | CMP | Record Date | Buyback Open Date | Buyback End Date |
|---|---|---|---|---|---|---|---|
| Garware Technical Fibres Limited | Tender Offer | 72.99 Cr | 2300 | 2202.50 (-0.59%) | 11-12-2020 | TBD | TBD | Jullundur Motor Agency (Delhi) Limited | Tender Offer | Rs 26.82 Cr | 36 | 34.35 (2.38%) | 24-12-2020 | TBD | TBD | Engineers India Limited | Tender Offer | 586.90 Cr | 84 | 79.80 (0.00%) | 01-01-2021 | TBD | TBD | Industrial & Prudential Investment Co. Ltd | Tender Offer | Rs 8.34 Cr | 1,200 | 1128.35 (2.03%) | 01-01-2021 | TBD | TBD | Indian Toners and Developers Limited | Tender Offer | 36.98 Cr | 160 | 138.85 (-4.93%) | 15-01-2021 | TBD | TBD | NIIT Limited | Tender Offer | Rs 237 Cr | 240 | 202.35 (-0.54%) | TBD | TBD | TBD |
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Detail Article on Benefit from buyback offer >> Read
Wipro Ltd Buyback Important dates - Record Date,Buyback Start and End date. Buyback Details - Buyback Price, Buyback Offer Size, Buyback Number of Shares, Retail Investors limit. What is the record date for Wipro Ltd? How can I apply in Wipro Ltd Buyback offer?
Last Updated on 2020-12-23T22:21:37+00:00
The Record Date for Wipro Ltd Buyback offer is 11th Dec 2020
Which means you should hold the Wipro Ltd share in your demat account by closing session of 11th Dec 2020. Share purchased on and before (11th Dec 2020) - 2 business days will be available in your demat account by 11th Dec 2020.
Its all depend on acceptance ratio which usually announce with Letter of Offer. Lets assume if you have Wipro Ltd shares at ₹375 and buyback offer price is ₹400, you can get ₹25 per accepted share. If you hold 533 shares of Wipro Ltd and if proportionate acceptance is between 33% and 50%, in such case you are eligible to sell your 176 to 266 shares with the gain from buyback of ₹4400 to ₹6650.
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 |
|---|---|---|
| 33% | 176 | ₹4400 |
| 50% | 266 | ₹6650 |
| 75% | 400 | ₹10000 |
| 100% | 533 | ₹13325 |
Steps to participate in Wipro Ltd buyback:
Share holders who hold less than 2 lakh worth of shares are consider in Retail Category. All others will consider in General Category. Last trading price on record date will be used to calculate the eligibility criteria.
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 20th Jan 2021.
Buyback opening date for Wipro Ltd: 29th Dec 2020
Buyback closing date for Wipro Ltd: 11th Jan 2021
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 13th Jan 2021.
I HAVE 55 SHARES OF WIPRO ON RECORD DATE AND 25 SHARES ARE ACCEPTED FOR BUY BACK. I RECEIVED A SMS MESSAGE FROM MY BROKER FOR CONSENT OF BUY BACK. I FILL THAT AND SENT BACK TO THE BROKER. JUST AFTER FEW MINUTES I RECEIVED MESSAGE THAT " WE HAVE RECEIVED YOUR CONSENT FOR NOT PARTICIPATING IN BUY BACK OFFER. PERHAPS YHIS IS DUE TO MISTAKE. I WANT TO PARTICIPATE IN THE OFFER PLEASE ADVISE WHAT TO DO