Wipro’s Rs 15,000 crore buyback opens today: Analysts expect 7-8% returns for retail investors. Here’s how

The much-awaited buyback worth Rs 15,000 crore of Wipro opened on Thursday. The IT major is set to buy back up to 60 shares from eligible shareholders at Rs 250 per share, which is around 40% higher than the current market price.

Wipro’s buyback will remain open from June 10 to June 17 during which the company will buy back up to 5.7% of its total paid-up share capital. The record date for the buyback was fixed on June 5, which means that only those shareholders who owned shares of the company on that day would be eligible to tender shares in the offer, and investors taking fresh positions today will not qualify.