IT services giant Wipro Ltd has officially approved a proposal to buy back equity shares worth up to ₹15,000 crore ($1.6 billion). The announcement was made alongside the company’s fourth-quarter and full-year earnings for FY26 on Thursday, April 16. This represents Wipro’s largest-ever buyback, aimed at returning surplus cash to its shareholders.
The move follows similar aggressive capital return strategies by its peers, though it trails the record ₹18,000 crore and ₹17,000 crore buybacks previously conducted by Infosys and TCS.
Key Details of the Wipro Buyback 2026
The board has authorized the repurchase of shares through the tender offer route, allowing existing shareholders to sell their holdings back to the company at a fixed price.
- Buyback Size: Up to ₹15,000 crore.
- Buyback Price: Fixed at ₹250 per share, representing a 19% premium over the closing price of ₹210.20 on the day of the announcement.
- Quantity: Up to 60 crore (600 million) equity shares, which accounts for approximately 5.7% of the company’s total paid-up equity share capital.
- Route: Tender Offer (proportionate basis).
- Record Date: To be announced (subject to shareholder approval via postal ballot).
Q4 FY26 Financial Performance
Wipro’s financial results for the quarter ended March 31, 2026, showed resilience despite a marginal year-on-year (YoY) dip in profit.
| Metric | Q4 FY26 Performance | Change (YoY) |
| Consolidated Net Profit | ₹3,501.8 Crore | -1.9% |
| Gross Revenue | ₹24,236.3 Crore | +7.7% |
| IT Services Margin | 17.3% | -0.2% |
| Large Deal Bookings | $1,440 Million | +65.1% (QoQ) |
Strategic Pivot: “AI-First” and Acquisitions
The buyback announcement comes as Wipro shifts its strategic focus toward artificial intelligence. CEO Srini Pallia noted that the company is pivoting to a “services-as-a-software” model through its new AI Native Business & Platforms unit.
Additionally, Wipro signed a definitive agreement on April 14, 2026, to acquire select customer contracts from Alpha Net Consulting LLC for up to $70.8 million, bolstering its AI-led consulting and application services business in the U.S. and Singapore.
Investor Outlook & Analyst Reaction
While the buyback premium was welcomed, global brokerage firms expressed caution regarding Wipro’s near-term revenue momentum.
- Guidance: For the June quarter (Q1 FY27), Wipro expects IT services revenue to be in the range of $2,597 million to $2,651 million, translating to a sequential growth guidance of -2% to 0% in constant currency terms.
- Brokerage Views: Jefferies maintained an ‘Underperform’ rating with a target of ₹180, citing weakness in the BFSI (Banking, Financial Services, and Insurance) vertical and the Americas region.
CFO Note: “Our cash conversion continues to remain strong with operating cash flows at 112.6% of net income for FY26,” said Aparna Iyer, CFO of Wipro. “We have returned a substantial portion of our cash generated to shareholders in the form of dividends and now this buyback.”
