New Delhi, April 16: IT services major Wipro’s board on Thursday approved a mega Rs 15,000 crore share repurchase programme, proposing to buy back more than 5 per cent of its equity, or up to 60 crore shares, from shareholders at Rs 250 per share.
The share buyback price reflects a premium of around 18 per cent over Thursday’s closing price of Rs 210.20 per share on BSE.
Wipro Chief Financial Officer Aparna Iyer, in an earnings call, said the Board of Directors has announced the buyback of shares worth Rs 15,000 crore at Rs 250 per share, subject to shareholder approval.
“In our recently concluded board meeting, the Board of Directors has announced a buyback of Rs 15,000 crore at a price of Rs 250 per share. Please note this is our largest buyback, and we expect to buy back 5.7 per cent of our paid-up capital. Buyback is expected to be completed in Q1-27, subject to shareholder approval,” Iyer said. (PTI)
“Our endeavour has always been to return substantial portion of the cash generated to our shareholders and for FY26 alone, we distributed USD 1.3 billion of cash in the form of dividends, taking our total payout ratio for the three-year block ending FY26 to 88 per cent, which is significantly higher than our stated capital allocation policy.” (PTI)
