Bengaluru-based Wipro Ltd. has announced a share buyback of up to ₹15,000 crore. Here are the key details of its latest buyback programme. 

How much is Wipro's latest buyback 

Wipro’s board has approved the buyback of up to 60 crore shares, representing 5.7% of its total equity shares, through a tender offer on a proportionate basis at a price of ₹250 per share. The total size of the buyback is nearly ₹15,000 crore (about $1.6 billion). The timeline for the buyback has not yet been announced. Existing shareholders of the company, including those who become shareholders by cancelling American Depository Receipts (ADRs) and receiving underlying equity shares as of the record date, will be eligible to participate. The promoter and promoter group have also indicated their participation in the proposed buyback.  

When was last buyback  

Wipro’s previous buyback programme was announced in 2023, when the company offered ₹445 per share and allocated ₹12,000 crore for the repurchase of shares. The buyback price represented a premium of 15.38% over the weighted average market price of the preceding 60 trading days and 21.80% over the weighted average of the previous 10 trading days before the announcement.  

What is capital allocation policy 

Effective FY26, Wipro has revised its capital allocation policy and now expects to return 70% or more of its cumulative net income over a three-year period through a combination of dividends, special dividends, and/or share buybacks. In a note, Bajaj Broking said, “For FY26, total cash returned to shareholders was $1.3 billion in dividends, bringing the three–year cumulative payout ratio to 88%, well above the company's stated capital allocation policy”.     

What are analysts saying about the latest buyback 

Analysts at Motilal Oswal Financial Services said Wipro’s latest buyback proposal is broadly in line with its previous buybacks, which typically covered 4–5% of equity, and could result in mid-single-digit earnings per share (EPS) accretion if fully executed. “Combined with dividends, the three-year payout ratio stands at 88% above its stated policy,” the earnings note stated. Nomura Analysts said that the current buyback and capital allocation now places Wipro at par with larger peers. They said the current buyback price offers a 19% premium to the prevailing market price. “With an interim dividend of ₹11 and the buyback, the total return of capital to shareholders is 88% for the three-year period ending FY26, making it in line with its larger Indian peers,” the report said.