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Wipro, an Indian multinational corporation is one of the leading global IT, consulting and business process service companies. It was founded in the year 1945 by Mohamed Premji as "Western India Vegetable Products Limited”, which was later abbreviated to “Wipro”. The company offers multiple services including Data, Analytics & AI Applications, Digital Operations and Platforms Consulting, Cloud & Infrastructure Services, and Product Engineering Consulting. Besides all these, it has also set up its business in multiple sectors to provide the best professional services to its customers.
The mission of Wipro is to be a global and responsible part of the world which is passionate to provide success to its clients by its excellent services. The company is listed with Bombay Stock Exchange as well as National Stock Exchange in India. The American Depositary Shares of Wipro are also listed at the NYSE since October 2000. It had been recognized as one of the most ethical companies by US-based Ethisphere Institute.
Apr 16th, 2019: Wipro Ltd (BSE:507685 | NSE:WIPRO) board has approved a proposal for buyback of up to 33.30 Cr shares at Rs 325 per share, aggregating Rs 10,500 Cr (Buyback Offer Size) which is 3.69% of total paid-up equity share capital.
Wipro had performed buyback last year in Jul-2017 and completed the process by Dec-2017 worth of Rs 11,000 Cr. Buyback price was 320 almost same as current buyback price. Retail acceptence ratio was 100%. As this time volume is bit higher from last buyback and number of shares are also high, we expect in retail segment it must be between 80 to 100%.
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 10500 Cr |
| Buyback Number of Shares: | 32.30 Cr |
| Buyback Price: | Rs 325 |
| Buyback Offer Size (In %): | 7.14% |
| Total Share Capital: | Rs 166355.60 Cr |
| Face Value: | 2 Per Equity Share |
Can I Invest today to participate in Wipro Ltd buyback offer? No
We recommend going for "Wipro Buyback" as acceptance ratio for the retail investor will be between 40 to 60%. We rated Wipro Buyback as 4.5/5 - Good.Existing investor must have to take this opportunity to book profit, new retail investor can also buy for short term gain.
Poor (<10% AR),Fair (Bw 11 to 30% AR), Average (Bw 30 to 60% AR), Good (Bw 60 to 90% AR),Excellent (>90% AR)
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 | 10th Apr 2019 |
| Buyback Approval date | 10th Apr 2019 |
| Public Announcement of Buyback | 10th Apr 2019 |
| Record Date | 21st Jun 2019 |
| Buyback opens on/Buyback Opening Date | 14th Aug 2019 |
| Buyback closes on/Buyback Closing Date | 28th Aug 2019 |
| Cut-off date to receive completed tender forms by Registrar | 6th Aug 2019 |
| Cut-off date for verification by the Registrar | 6th Sep 2019 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
9th Sep 2019 |
| Last date of settlement of bids on the stock exchange | 9th Sep 2019 |
| Last date to return unaccepted shares by Registrar | 9th Sep 2019 |
| Last date of extinguishment of Equity Shares | 16th Sep 2019 |
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 | 76.02% |
| Non-Promoter-Institutions | 15.43% |
| Non-Promoter-Non-Institutions | 23.52% |
Wipro Ltd Letter of Offer >>Document
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 71 Equity Share out of every 169 fully paid-up Equity Share held on the Record Date. | 42.01 |
| General Category | 52 Equity Share out of every 1121 fully paid-up Equity Share held on the Record Date. | 4.64% |
For Wipro Ltd Buyback Offer, Report updated by the manager of buyback -
In general category - response received 1701%, No. of Equity Shares reserved in Buyback was 274615384 where valid bid received for retail category was 4670150622 which is 1701% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 187%, No. of Equity Shares reserved in Buyback was 48461539 where valid bid received for retail category was 90601525 which is 187%. Final Acceptance Ratio for Retail Investors was 42.01%.
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 |
|---|---|---|---|---|---|---|---|
| Tanla Platforms Ltd | Tender Offer | Rs 170 Cr | 1200 | 931.65 (-1.06%) | 25-10-2022 | TBD | TBD | Garware Technical Fibres Ltd | Tender Offer | Rs 90 Cr | 3750 | 4-11-2022 | TBD | TBD | Orbit Exports Limited | Tender Offer | Rs 10 Cr | 245 | 164.70 (0.61%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 290.95 (-1.59%) | 25-08-2023 | TBD | TBD | Tips Industries Limited | Tender Offer | ₹37.19Cr | 625 | 459.65 (-0.45%) | 22-04-2024 | TBD | TBD |
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 2019-11-15T21:49:17+00:00
