Wipro last came out with a Rs 9,500 crore buyback in 2020. The company had bought back 23.75 crore shares at Rs 400 apiece. The IT major informed about completion of the extinguishment of shares on January 21, 2021. 
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Wipro last came out with a Rs 9,500 crore buyback in 2020. The company had bought back 23.75 crore shares at Rs 400 apiece. The IT major informed about completion of the extinguishment of shares on January 21, 2021. The Rs 12,000 crore share buyback that Wipro announced post its March quarter results was its biggest in terms of buyback size. If one includes the previous four share buybacks that the Bengaluru-based IT firm announced since 2016, the total buyback announced by the Azim Premji founded company stands at Rs 45,500 crore in eight years.
Wipro on Thursday said it would buyback up to 269,662,921 shares of face value Rs 2 each from the shareholders of the company on a proportionate basis, by way of a tender offer, at a price of Rs 445 per equity shares. The share buyback would amount to Rs 12,000 crore and would represent 4.91 per cent of total number of equity shares, Wipro said.
Wipro share buyback biggest ever in size; IT major announces Rs 45,500 crore in buybacks in 8 years. Key details
The IT major said the process, record date, timelines and other details will be communicated in the public announcement, adding that the letter of offer will be published in accordance with the Buyback Regulations.
""The large buy-back program (Rs 12,000 crore; Rs 14,800 crore including taxes) will deplete significant portion of cash and investments of the company and may hit its ability to maintain payout over FY24/25E," Motilal Oswal Securities said in a note.
The Rs 12,000 crore share buyback that Wipro announced was its biggest in terms of buyback size. If one includes the previous four share buybacks that the Bengaluru-based IT firm announced since 2016, the total buyback announced by the Azim Premji founded company stands at Rs 45,500 crore in eight years.
Wipro had last came out with a Rs 9,500 crore share buyback in 2020. The company had bought back 23.75 crore shares at Rs 400 apiece. As per data available with AceEquity, the IT major informed about the completion of the extinguishment of shares on January 21, 2021.
Before that, Wipro came out with a Rs 10,500 crore share buyback in 2019. The buyback offer size was 32.31 crore shares, which were bought back at Rs 325 per share.
Wipro had announced a Rs 11,000 crore share buyback in 2017. That time, the company had offered to buy back 34.37 crore shares at Rs 320 apiece. The buyback shares represented 7.06 per cent of the total paid-up share capital then.
Wipro Q4 results: Profit at Rs 3,075 crore; Rs 12,000 crore share buyback announced. Key details
Wipro also came out with a Rs 2,500 crore share buyback in 2016. A total of 4 crore shares were offered to be bought back at Rs 625 apiece then. Meanwhile, Wipro announced bonus issue in the ratio of 1:1 in 2017 and 1:3 in 2019.
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