Wipro to evaluate share buyback plan at upcoming board meet; details here
Wipro shares slipped 0.20 per cent to close at Rs 202.90. At this level, the stock has declined 17.62 per cent over the last six months.
- Apr 9, 2026,
- Updated Apr 9, 2026 4:08 PM IST
Wipro Ltd, in a post-market filing on Thursday, announced that the IT firm would be considering a proposal to buyback equity shares in its upcoming board meeting.
"The Board of Directors of the Company will be considering a proposal to buyback equity shares of the Company and the matters necessary and incidental thereto, in accordance with the applicable provisions of the Companies Act, 2013 (including the rules framed thereunder), the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended, and other applicable laws, at its meeting scheduled to be held over April 15-16, 2026," it stated.
"The outcome of the Board meeting will be communicated to the stock exchanges soon after conclusion of the Board meeting, in accordance with the applicable provisions of the SEBI LODR Regulations," Wipro added.
Meanwhile, Wipro shares slipped 0.20 per cent to close at Rs 202.90. At this level, the stock has declined 17.62 per cent over the last six months.
Separately, the IT major recently signed an eight-year strategic transformation deal with Olam Group, a global food and agri-business leader generating over $50 billion in revenue, employing around 40,000 people and majority-owned by Temasek Holdings.
Emkay Global said the deal with Olam Group and the acquisition of Mindsprint will strengthen Wipro's farm-to-fork capabilities, scaling the impact of Wipro Intelligence across the food and agri-business industry.
"This marks Wipro's second sizable acquisition in the past 9M, following the purchase of HARMAN's DTS unit for $375 million, which is likely to contribute 3 per cent to revenue. Pending deal closure, we have not yet factored the current acquisition (likely to contribute 1.3 per cent to Wipro's revenue) in our earnings estimates. We retain REDUCE and target price of Rs 210, at 15x Mar-28E EPS," it said.
"It provides long-term revenue visibility and deeper access to Olam’s operations across farming, trading, and supply chain to Wipro. Moreover, Mindsprint brings domain expertise and IP-led platforms that Wipro can leverage across other clients, enhancing its ability to win similar deals, expand work within existing accounts, and scale consulting-led solutions," Emkay said.
As part of the agreement, Wipro will acquire Olam Group’s IT and digital services arm, Mindsprint, for $375 million, which will become a wholly owned subsidiary of the IT major. Wipro, in turn, will deliver end-to-end transformation services to Olam Group through a consulting-led and AI-powered approach.
Wipro Ltd, in a post-market filing on Thursday, announced that the IT firm would be considering a proposal to buyback equity shares in its upcoming board meeting.
"The Board of Directors of the Company will be considering a proposal to buyback equity shares of the Company and the matters necessary and incidental thereto, in accordance with the applicable provisions of the Companies Act, 2013 (including the rules framed thereunder), the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended, and other applicable laws, at its meeting scheduled to be held over April 15-16, 2026," it stated.
"The outcome of the Board meeting will be communicated to the stock exchanges soon after conclusion of the Board meeting, in accordance with the applicable provisions of the SEBI LODR Regulations," Wipro added.
Meanwhile, Wipro shares slipped 0.20 per cent to close at Rs 202.90. At this level, the stock has declined 17.62 per cent over the last six months.
Separately, the IT major recently signed an eight-year strategic transformation deal with Olam Group, a global food and agri-business leader generating over $50 billion in revenue, employing around 40,000 people and majority-owned by Temasek Holdings.
Emkay Global said the deal with Olam Group and the acquisition of Mindsprint will strengthen Wipro's farm-to-fork capabilities, scaling the impact of Wipro Intelligence across the food and agri-business industry.
"This marks Wipro's second sizable acquisition in the past 9M, following the purchase of HARMAN's DTS unit for $375 million, which is likely to contribute 3 per cent to revenue. Pending deal closure, we have not yet factored the current acquisition (likely to contribute 1.3 per cent to Wipro's revenue) in our earnings estimates. We retain REDUCE and target price of Rs 210, at 15x Mar-28E EPS," it said.
"It provides long-term revenue visibility and deeper access to Olam’s operations across farming, trading, and supply chain to Wipro. Moreover, Mindsprint brings domain expertise and IP-led platforms that Wipro can leverage across other clients, enhancing its ability to win similar deals, expand work within existing accounts, and scale consulting-led solutions," Emkay said.
As part of the agreement, Wipro will acquire Olam Group’s IT and digital services arm, Mindsprint, for $375 million, which will become a wholly owned subsidiary of the IT major. Wipro, in turn, will deliver end-to-end transformation services to Olam Group through a consulting-led and AI-powered approach.