Wipro Limited, a leading global information technology company, has announced a buyback of up to 26,96,62,921 equity shares at a price of Rs. 445 per share. The buyback offer is open to all eligible shareholders as on the record date, which is June 16, 2023.
How to Apply for Wipro Buyback
If you are an eligible shareholder, you can apply for the buyback through your stock broker. The buyback process is as follows:
- Log in to your stock broker’s website or mobile app.
- Click on the “Buyback” or “Offers” tab.
- Select the Wipro buyback offer.
- Enter the number of shares you want to tender.
- Submit your application.
Once you have submitted your application, your shares will be transferred to a special account of the clearing corporation. The clearing corporation will then sell your shares to Wipro at the buyback price.
The payment for the accepted shares will be credited to your account within a few days of the buyback completion.
Here are some important things to keep in mind when applying for the Wipro buyback:
- The buyback offer is open to all eligible shareholders as on the record date.
- The buyback price is Rs. 445 per share.
- The minimum number of shares that you can tender is 10.
- The maximum number of shares that you can tender is the number of shares that you hold as on the record date.
- The acceptance ratio for the buyback will be determined after the buyback offer closes.
If you have any questions about the Wipro buyback, you can contact your stock broker or Wipro’s investor relations department.
Here are the steps on how to apply for Wipro Buyback in detail:
1. Check if you are eligible.
The first step is to check if you are eligible for the buyback. You are eligible if you hold Wipro shares in demat or physical form as on the record date, which is June 16, 2023.
2. Gather the necessary documents.
If you are eligible, you will need to gather the following documents:
- Your stock broker’s account number and trading PIN.
- The number of shares you want to tender.
- A copy of your PAN card.
3. Submit your application.
Once you have gathered the necessary documents, you can submit your application to your stock broker. You can do this online, by phone, or in person.
4. Wait for the buyback to be completed.
Once you have submitted your application, the buyback will be completed within a few weeks. You will be notified by your stock broker if your shares are accepted or rejected.
If your shares are accepted, you will receive the payment for the accepted shares within a few days of the buyback completion.
Here are some tips for applying for the Wipro buyback:
- Start early. The buyback offer is open for a limited time, so it is important to start the application process early.
- Gather all the necessary documents. This will help to speed up the application process.
- Check your application carefully before submitting it. Make sure that you have entered the correct number of shares and your PAN card number.
- Be patient. The buyback process may take a few weeks to complete.
I hope this blog post has helped you to understand how to apply for the Wipro buyback. If you have any further questions, please do not hesitate to contact your stock broker or Wipro’s investor relations department.