IT major Wipro Limited has announced June 5, 2026 as the record date for its proposed Rs 15,000 crore share buyback, enabling eligible shareholders to participate in the tender offer.
The Bengaluru-based tier-1 software services company informed stock exchanges on Friday that its board and shareholders had earlier approved the buyback of up to 60 crore fully paid-up equity shares with a face value of Rs 2 each at a price of Rs 250 per share. The repurchase will be carried out through the tender offer route on a proportionate basis.
Under the buyback scheme, shareholders whose names will appear in the company’s records as of June 5 will be eligible to participate in the buyback process.
The buyback comes on the back of significant selling seen in the IT pack. Wipro shares have fallen 24% in 2026 so far while the past one year price erosion is to the tune of 17%.
Wipro reported a 2% fall in its consolidated net profit at Rs 3,502 crore for the March-ended quarter. Revenue from operations, meanwhile, rose 8% year-on-year to Rs 24,236 crore.
The core IT services segment showed limited traction. Revenue stood at $2.65 billion, growing just 0.6% quarter-on-quarter (QoQ) and 2.1% year-on-year (YoY). On a constant currency basis, IT services revenue rose 0.2% sequentially but declined 0.2% annually, highlighting weak underlying demand.
Wipro reported a 12% sequential rise in profit. Wipro reported total bookings of $3.46 billion, up 3.2% sequentially, while large deal bookings surged 65% QoQ.
The company expects revenue from its IT Services business segment to be in the range of $2,597 million to $2,651 million for the next quarter. This translates to sequential guidance of -2% to 0% in constant currency terms.
