Wipro completes $1.56 billion buyback amid revenue concerns
pre-market1 source ↓written by the desknot a recommendation
- share buyback
- ₹15,000 crore ($1.56 billion)
- FY27 results
- 16 July 2023
- sequential revenue guidance
- -1.8%
- stock decline year-to-date
- 35%
- for retail shareholders
- 11:56 entitlement ratio
Wipro has completed a ₹15,000 crore ($1.56 billion) share buyback, the largest in its recent history, ahead of its Q1 FY27 results on 16 July 2023. This move comes as the company faces -1.8% sequential revenue guidance amid a 35% stock decline year-to-date.
The buyback, structured with an 11:56 entitlement ratio for retail shareholders, aims to enhance shareholder value as Wipro's stock trades at a P/E of 14.8x–16.65x, lower than peers like TCS and Infosys. This capital return may help stabilize investor sentiment in a challenging market environment.
Not investment advice. For informational purposes only.