WIPRO Buyback 2020 Latest News: Wipro buy back record date & How to Apply?

WIPRO BUYBACK 2020 Details| LATEST Wipro share NEWS | Wipro BUY BACK RECORD DATE | Wipro BUYBACK PRICE | Wipro Buyback Acceptance Ratio

Wipro Ltd. has announced a Rs 9,500-crore buyback, joining its larger peer Tata Consultancy Services Ltd. in rewarding shareholders.

The board has approved a proposal to buy back 23.75 crore shares, or 4.16% of the equity, at Rs 400 apiece, Wipro said in an exchange filing. The buyback price is at a premium of 6.45% to Tuesday’s closing stock price.

Also Check:- Latest Share Buyback 2020

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Wipro Share Buyback Offer Details

Wipro Share Buy Back Plan | Wipro Buyback Shares

Buyback Type: Tender Offer
Wipro Buyback Record Date: 11.12.2020
Wipro Buyback Offer Amount: ₹ 9500 CR
Date of Board Meeting approving the proposal: Oct 13 2020
Date of Public Announcement: Oct 13 2020
Wipro Buyback Offer Size: 4.16%
Buyback Number of Shares: 23,75,00,000
Price Type: Tender Offer
Face Value (FV): 2
Wipro Buyback Price: ₹ 400 Per Equity Share
Wipro Buyback Premium: 15%

The company has fixed December 11, 2020, as the record date for the purpose of determining the entitlement and the names of equity shareholders who are eligible to participate in the buyback, as per the company filing to the exchanges.

The board of directors and shareholders of the company already approved the proposal of buyback up to 23,75,00,000 fully paid-up equity shares of the company of face value of Rs 2 each at a price of Rs 400 per equity share.

Last year, Wipro had undertaken a buyback programme of 32.31 crore shares at Rs 325 apiece, aggregating to about Rs 10,500 crore.

Wipro had previously announced a buyback worth Rs 11,000 crore in 2017, and Rs 2,500 crore in the year 2016.

Upcoming Buyback 2021

Wipro Buyback Important Dates

In this section we have covered all important dates related to “Wipro Buyback Date”. Dates are updated as they are announced. The most noted dates are Wipro record date and Wipro buyback open and close dates, which one should use to participate in buyback.

Wipro Buyback Offer Dates
Buyback Activity Date
Board Meeting for Wipro Buyback proposal 13.10.2020
Wipro Buyback Approval date 13.10.2020
Public Announcement of Wipro Buyback 17.11.2020
Wipro Buy back Record Date 11.12.2020
Wipro Buyback opens on/Buyback Opening Date 29.12.2020
Wipro Buyback closes on/Buyback Closing Date 11.01.2021
Cut-off date to receive completed tender forms by Registrar Coming Soon
Cut-off date for verification by the Registrar Coming Soon
Cut-off date to inform Stock Exchange on acceptance or
non-acceptance of tendered Equity Shares by Registrar
Coming Soon
Last date of settlement of bids on the stock exchange 11.01.2021
Last date to return unaccepted shares by Registrar Coming Soon
Last date of extinguishment of Equity Shares Coming Soon

Tentative Record Date To Participate In Wipro Buyback

Wipro buyback record date is December 11, 2020.

The Company has fixed Friday, December 11, 2020 as the Record Date for the purpose of determining the entitlement and the names of equity shareholders who are eligible to participate in the buyback.

Latest Buybacks 2020

Wipro Share Holding Pattern as of SEP 2020

Stock Holding table gives a clear picture on retail investor holdings of Wipro shares which helps investor to decide on participating in buyback offer. The less number of retail holdings means higher chance of acceptance in Wipro buyback under retail category which is equal to higher profit.

The Shareholding Pattern page of Tata Consultancy Services Ltd. presents the Promoter’s holding, FII’s holding, DII’s Holding, and Share holding by general public etc.

Shareholding Pattern – WIPRO Ltd. as on 30-09-2020

Category No. Of Shares Percentage
Promoters 4,229,945,033 74.02
Foreign Institutions 479,443,215 8.39
NBFC and Mutual Funds 144,424,818 2.53
Others 299,392,217 5.24
General Public 313,462,887 5.48
Financial Institutions 226,378,863 3.96
GDR 21,903,855 0.38

How to Apply for Wipro Buyback?

Now if you are wondering ‘How do I apply for a buyback?’ OR “How to Participate in buyback?” we’ve got you covered. When it comes to share-buyback schemes, the capital market regulator has compulsorily reserved a buyback portion of 15% for retail investors who possess in-hold shares in a company worth upto ₹2 lakhs.

This percentage is also taking into account the scrip’s market value as seen on the record date of the buyback offer.

During the application process of share buyback, you will be given a tender form by the company. This form is where you enter the number of shares of that company that you wish to tender.

There is a ratio of acceptance attached to the tender form which signifies how likely the company is to accept your request for share buybacks. Different companies have different ratios for share buybacks.

Wipro Buyback Acceptance Ratio 2020

Profit from the buyback on the bases of acceptance Ratio:

Buy 500 Shares at CMP of Rs.375 (2,00,000/375=500)

Wipro Buyback Acceptance Ratio 33% 50% 75% 100%
Amount Invested in Buyback 187500 187500 187500 187500
No. of Shares buyback 165 250 375 500
Buyback Profit 4125 6250 9375 12500
Profit 2.20% 3.33% 5.00% 6.67%

Here is what you can expect in a typical tender form given by a company. There are normally three fields as follows:

  1. The number of shares you hold from the said company as on the record date
  2. The number of shares that fit the eligibility criteria for buybacks
  3. The number of shares that one is applying for a buyback.

Apply Wipro buyback from Zerodha

Here is complete method from Zerodha

You can apply for Buybacks on Console> Portfolio> Corporate action order window

  • Hover your mouse on the stock and select ‘Options’ and click on ‘Place order’
  • Enter the number of shares you want to tender and click on ‘Submit’
  • Buyback/Takeover/Delisting orders are collected until 6:00 PM, one trading day prior to the offer end date. Ensure to hold sufficient quantities in your demat account before closure of the offer end date. (Do not sell the shares after placing the order). Only shareholders who hold the shares as on the record date will be eligible for the corporate action.

Company Contact Information

Wipro Limited
Doddakannelli, Sarjapur Road
Bengaluru – 560 035, India
Ph: +91 (80) 46827999, +91 (80) 61427999, +91 (80) 46726000
Fax: +91 (80) 28440054

Registrar Contact Information

Link Intime India Private Limited
C-101, 1st Floor, 247 Park,
Lal Bhadur Shastri Marg, Vikhroli (West), Mumbai 400 083
Tel:+91 022 49186200
Contact Person: Mr. Sumeet Deshpande
E-mail: rites.buyback2020@linkintime.co.in

***Related Queries***

Wipro Buyback Important dates – Record Date, Buyback Start and End date. Buyback Details – Buyback Price, Buyback Offer Size, Buyback Number of Shares, Retail Investors limit.

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Wipro Buyback 2020 FAQs:

When is Wipro Buyback Record Date?

Wipro buyback 2020 record date will be 11.12.2020.

When is Wipro Buyback announcement Date?

Wipro buyback 2020 announcement date is Oct 13 2020.

What is Wipro Buyback Price?

The company has fixed the price at ₹400 Per Equity Share.

How can I get Wipro buy back?

As per the Wipro record date (11.12.2020) you need to have Wipro shares in your demat account. You can participate in buyback after having the stock in your account.
Once you have shares in demat, you can participate in the buyback process which is opening from [29.12.2020], by selling your shares through your broker on NSE or BSE. Then on [21.01.2021] the payment will be given to you for accepted shares and unaccepted shares will be returned to your demat account.

How much I can make with Wipro buyback offer?

Its all depend on acceptance ratio which usually announce with Letter of Offer.
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.

How to Participate in Wipro buyback offer?

Steps to participate in Wipro buyback:
On Record date (11.12.2020) you must have share of Wipro in your demat account. Depositing of share in your DP account usually take T+2 days, so you need to plan your buying accordingly.
After that company announces buyback open and close window, so you need to tender your share in buyback process. You can do this online or contact your broker to tender your share in buyback, so he can place a request on your behalf.
Next step is with registrar – depend on buyback acceptance ratio, your shares will be sold in buyback process and fund will directly debited in your bank account. Any rejected share will be revert in your demat account which you can sell in open market or hold for long term gain.

How many Wipro share are eligible for 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.

When I need to tender Wipro share for buyback?

Wipro Buyback opening date: (29.12.2020)
Wipro Buyback closing date: (11.01.2021)
This is the window when you need to submit your application for proposal for share buyback.

When I will know how much shares accepted in Wipro buyback offer?

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 (Coming Soon).

Why is Wipro buying back shares?

Wipro plans to buy back up to 23.75 crore equity shares of the company for an aggregate amount not exceeding 9500 crore. Wipro proposed to buy back shares at ₹400 per share.
The company had announced the mega buyback offer as part of its long-term capital allocation policy of returning excess cash to shareholders.