Wipro Sets Buyback Date: Rs 15,000 Crore Tender Offer Looms

IT major Wipro Limited has established June 5, 2026, as the record date for its significant Rs 15,000 crore share buyback. This initiative, previously greenlit by the company's board and shareholders, involves the repurchase of up to 60 crore fully paid-up equity shares at a price of Rs 250 per share.

The buyback will be conducted via a tender offer, allowing eligible shareholders, whose names appear on the company's records by the specified date, to participate. This move comes as Wipro faces headwinds, with its shares experiencing a notable 24% decline in 2026 and a 17% drop over the past year.

For the quarter ending March 2026, Wipro reported a 2% decrease in consolidated net profit to Rs 3,502 crore, although revenue from operations saw an 8% increase year-on-year, reaching Rs 24,236 crore. The core IT services segment exhibited limited growth, with revenue at $2.65 billion, up only 0.6% sequentially.

Despite sluggish core segment performance, Wipro noted a 12% sequential rise in profit and a 3.2% increase in total bookings to $3.46 billion. Large deal bookings saw a substantial surge of 65% quarter-on-quarter. Looking ahead, the company projects IT Services revenue for the next quarter to be between $2,597 million and $2,651 million, indicating a sequential guidance of -2% to 0% in constant currency terms.