Wipro Buyback 2019

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. They harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, a strong commitment to sustainability and good corporate citizenship, we have over 160,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.

Buy Back Offer Deal:

Buyback Type: Tender offer
Buyback Record Date: Jun 21 2019
Buyback Opening Date: Aug 14 2019
Buyback Closing Date: Aug 28 2019
Buyback Offer Amount: ₹ 10500 Cr
Date of Board Meeting approving the proposal: Apr 16 2019
Date of Public Announcement: Apr 16 2019
Buyback Offer Size: 5.35%
Buyback Number of Shares: 323076923
FV: 2
Buyback Price: ₹ 325 Per Equity Share

Details of Buyback:

The Board of Directors of the Company at its meeting held on 16.04.2019 has interalia approved a proposal to buy back up to 32,30,76,923 Equity Shares of the Company, being  5.35% of the total paid up equity share capital and free reserves of the Company, for an aggregate amount not exceeding Rs.10500 Crores at Rs. 325 under the "Tender offer" route using the stock exchange mechanism. Promoters have shown interest in participating in the buyback.

Salient financial parameters:

Year Revenue(Cr) EBITDA(Cr) EBITDA Margins PAT PAT Margins EPS
2016 47391 11967 25% 8200 17.30% 18.14
2017 48693 12024 25% 8161 16.76% 18.06
2018 47189 11615 25% 7722 16.36% 17.08

How to Participate in buyback?

1. Firstly to be eligible for the buyback the investor should have shares of Wipro Limited Buyback 2019 in demat or physical form as on record date. [ 21.06.2019] 2. Once you have shares in demat, you can participate in the buyback process which is opening from [ 14.08.2019 to 28.08.2019 ] by selling your shares through your broker on NSE or BSE. 3. Then on [ 09.09.2019 ], the payment will be given to you for accepted shares and unaccepted shares will be returned to your demat account.

Profit from the buyback on the bases of acceptance Ratio:

Buy 615 Shares at CMP of Rs. 280[2,00,000/325=615)
Acceptance Ratio 33% 50% 75% 100%
Amount Invested in Buyback 1,72,307 1,72,307 1,72,307 1,72,307
No. of Shares buyback 202 307 461 615
BuyBack Profit 9090 13815 20745 27675
Profit 5.24% 8.01% 12% 16.06%

Recommendation:

Review and Recommendation of Wipro Ltd Buyback 2019 by IZ team is: 6/10 Fair: 1-5 Good:5-7 Excellent: 7-10 [ Expected AR above 90% ]

    DEAR  SIR /MAM 

    BONANZA DMAT A/C
    MY CID. MAI2W079 & PAN NO.ASLPG9208K

    I APPLIED BUYBACK @28 SHARES  OF WIPRO 

     BUT I DIDN’T  RECEIVE  MONEY  IN MY BANK  A/C & I DIDN’T  GET SHARE  IN MY DMAT A/C 

    Hi. From 500 shares 264 shares have been accepted from me. But I have not received the money in my bank account or in dp. Contacted Karvy and zeroda. They are saying that they are processing it. I will be getting it in few days. What to do ? Any idea? Kindly suggest

    WIPRO SEPTEMBER QUARTER RESULT WILL BE AROUND 24/10/19. NOW I DONT SEE MORE DOWN SIDE FROM HERE.

    How much down the Wipro share are expected to go ? Can we think of buying some now as a short term investment ?

    Azim Premji, promoter entities sold shares worth Rs 7,300 crore during Wipro buyback

    Now that Post Buyback Announcement is Out the average was 344 shares tendered in the Reserved Category. based on this almost any buyback in future would be heavily subscribed.

    Hi….I got the confirmed order number from zerodha regarding my application of 500 shares for buyback. I got confirmation email which is as below but when i checked my demat account today all the 500 shares were back to in my holdings, so i did not got buy back for any of any of the shares. Can anyone tell me why this happened?

    Your buyback order for 500 shares of Wipro Ltd has been placed with the following order ID: 201**************

    You will receive the credit of funds directly to your bank account by September 09, 2019.

    Regards,
    Team Zerodha

    after ER got of 252 shares sold 48 shares in both accounts around 255 *96 = 24480 credit please explain it

      ER = ENTILTMENT RATIO
      After record date sold 300 bcz I was expecting ER about 50% but when ER came 42% at 3rd august in which wipro said 252 shares will be taken for sure, so I sold additional 48 shares 300 -252 = 48
      that time wipro share price was 255 so I sold 48 shares in each account. so left with only 252 similar to ER all got accepted in the buyback.
      I think you got it.

    why my buyback amount not received i have 1100 share applied for buy back still i have not received amount

    I have received the amount of 317 shares @ Rs. 325/ and 283 shares back in my Demat A/c.

    MY FInal analysis of WIPRO buyback:-
    held 600 shares each in 2 accounts in avg. price of 288 *1200 = 345600 debit
    sold 300 shares just after record date avg price of 285* 600 = 171000 credit
    after ER got of 252 shares sold 48 shares in both accounts around 255 *96 = 24480 credit
    applied for 252 shares all got accepted in both accounts. 325 * 504 = 163800 credit
    total debit = 345600
    total credit = 359280
    total profit = +13680
    ROC IN 4 Months 3.95 %.

      Held 1600 shares in 4 accounts. 400 each @ 289.75. After buyback holding 756 shares. 189 in each account.
      Made a realized profit of 29,751
      Having an unrealized loss of -25,817.40
      Net position today 3933.6 ( Brokrage extra )

      What should be the next strategy ??

        as you are having huge quantity reduces 25 % now and 25 % around 270 level which is major resistance
        you can hold remaining share with 270 as stopp loss on closing basis if it goes above that and exit all-around your cost.
        note – wipro has weak performance compare to its peer TCS INFY AND HCL .
        so it can take time to achieve that if you don’t have time exit all-around 270 level then also you will be in good profit.

    I had submitted 300 wipro shares in buyback on 14.8.19.when not received amount till day I rechecked and found that icici direct which showed order successful was subsequently rejected due a technical glitch in ndsl on that day.any remedy?

      nothing can be done now as process is competed.
      you should have checked before 28 Aug, what you can do is change your broker it is there mistake not nsdl.

    I have wipro 290 shares in angel broking and 615 shares in trade bulls
    In buyback i give 615 shares of trade bulls in buyback and not give 290 shares wipro of angel account
    But only 35 shares accepted in wipro buyback
    Can anyone tell me why?

      sirji…category to general ho gyi na….bhavve aap shares tender kro ya nhi…2 lac tk ki investment wale bnde ko hi reserved category mein chance milega

      290+615 = 905 * 325 = 294125 in one pancard.
      so you become HNI. in HNI category AR is around 6% thats why 615 applied 35 accepted.
      you should have sold 295 shares before the record date and applied for 615 shares to eligible in retail where AR is 53%.

    @market Wizard
    What next..
    1) should we Avg at lower level with a time horizon of 6-12 months?
    2) Exit from remaining stocks?
    3) Enter into a new Buyback to gain more profit?
    Your opinions are welcome
    😁

      You can expect money by today evening.shares will be available since Wednesday if not then sure on Thursday depends on broker.

    Can I sell the remaing shares on Monday or Do I need to wait till wednesday
    I”m holding accounts in zerodha and kotak

    Heavy selling pressure will be seen in Wipro from Monday to Wednesday! Most of the retailers will offload their shares starting from Tuesday. Local brokers will start offloading from Monday itself. So be prepared!

    I received contract note from my broker for buyback of Wipro shares . 324 shares out of 615 i.e 53% have taken buyback . Now no further doubt in this regard . It is final.

    WHAT IS THE PROSIGER FOR PREPARING ACCEPTANCE RATIO? CAN ANYBODY TELL?
    THERE IS TOO MUCH ASSUMPTIONS ABOUT WIPRO ;AND ADANI PORT.

      600 on record date same appiled for buyback.
      out of which 317 taken by company .
      prostock mailed me contract note .

    Just received a message from Upstox. 149 Shares accepted out of 300 Shares. ( AR will be 49.66%)

      Correction in above post:

      149 shares of Wipro accepted out of 250 shares tendered. ( AR will be 59.6%)

        Seeing different figures in a different post. However, your’s seem to be genuine as you get the real message from the broker.

        this guy seems to have born with a golden spoon. or maybe the registrar has got scared with his surname:)))

    when the shares will be credited back to our demat? and whats the earliest possible day we can sell those? t+2 applicable here or not?

    ideally wipro should have close to 100% AR as shares tendered in retail category was very low at around 1.6 cr shres…

    so final AR is out now about 53 % shares accepted.
    so, anyone holding 600 shares @ 285 now he has to sell the remaining 283 shares at the current price of 250.
    profit of 317 accepted shares 317*40= 12640
    loss in 283 remaining share 283*35=9905
    final profit = 2735
    by looking at this was clear timepass for retail investor blocking 1.75 lac for 4 months.

        I have wipro 290 shares in angel broking and 615 shares in trade bulls
        In buyback i give 615 shares of trade bulls in buyback and not give 290 shares wipro of angel account
        But only 35 shares accepted in wipro buyback
        Can anyone tell me why?

    📌 *WIPRO BUY BACK UPDATE*

    📌324 Accepted Out of 615
    📌317 Accepted Out of 600
    📌343 Accepted Out of 650

    Final AR

    343 FOR 650 (52.76%)

    Additional 18% shares will be accepted out of Extra shares applied. ENTITLEMENT QTY PLUS ➕ 18% shares of extra qty applied (18% of 58% I. E. 10.44%) . Total 52%

      Someone post this same lines on moneycontrol yesterday. You just copy here. Only believe when you got credit msg.

    After buyback announced around 7 cr new share holders so it’s clear that AR WOULD BE 60-70%

      Exactly …it should be above 60%..As per my calculations :- There were 7.17 crores new shares and 2.45 lakh new shareholders(As quarterly data available ending june 30th) lets assume all 7.17 crs shares were bought for buyback purpose ..Now 2.65 lakh were total bids placed
      so 2.65-2.45= .2 lakhs old shareholders tendered their shares
      now assuming each of them held maximum limit of 700 shares …that translates to 1.4 crores shares tendered so Total shares tendered=7.17 cr+1.4=8.57crores ..so 4.84 cr/8.57cr=56.4 %AR ..very worst case scenario.Ideally it should be more ..

    Forwarded message

    The Wipro buyback bill is likely to be around 1pm tomorrow

    Shares not accepted in buyback will be returned on Monday

    Delivery of the returned stock tomorrow will be due on Wednesday
    That is, you will be able to sell the shares that are not in buyback tomorrow

    Payment of Wipro A accepted shares in buyback will come to the bank on Monday

    What percentage of the shares passed in buyback will be known around 1pm tomorrow so I will send a message immediately so that the increased shares can be sold.

    Additional 18% shares will be accepted out of Extra shares applied.

    ENTITLEMENT QTY PLUS ➕ 18% shares of extra qty applied (18% of 58% I. E. 10.44%) . Total 52%

    Forwarded message:

    *Wipro*
    *Market News not confirmed yet*
    Wipro

    The obligation file will be uploaded on 6th September, payment on 9th September. We will come to know probably by 5th September & officially by 6th

    Expected AR around 50 to 55%…..

    HOW FOOL CAN RETAIL INVESTOR WILL BE I SOME TIME THINKS KEPT ON EXPECTING THAT AR WILL BE MORE THAN 75%. I KNOW SOME PEOPLE STILL SAYING AR WILL BE 100% BCZ TCS KA 100 % THA WHAT A LOGIC ?????

    Will the money be credited to the bank account, or it will come to the ledger of the trading account ?

    53%AR.. quite disappointing n at the same tym difficult to gulp down..As per number of individual bids minimum 62-63%AR was quite expected…As Market wizard ji also said earlier… lets wait for few hours for the official nos.

    The obligation file will be uploaded on 6th September, payment on 9th September. We will come to know probably by 5th September & officially by 6th

    I have also seen some long term investors, who doesn’t care about this buyback deal.
    They sit back and let it go.

    These people help indirectly in increasing the AR 🤔🤔🙂🙂🙂

      sirji…baat thik h aapki..but jitne b shares buyback ke lie tender hue h…uska data aa chuka h…so it dsnt matter that who have tendered shares and who dnt…

    The heavy enthusiasm on this board for knowing AR is a very basic proof that AR will less than whatever one expects.

    market wizard…in one of ur post u mentioned regarding average tender shares by investors are around 350…but here some guys r saying that its 225 ….clarify please

    If 2.65lk shrholders tender 225 shr each then
    225 – AR 80 %
    250- AR 70%
    275- AR 65%
    300 – AR 60%

      please read post of Market Wizard dated 26 aug…he mentioned average of 370 shares per investor…

      The average share holding of retail investors is 224. and Hence, assuming same average for the bids recd. from 2.65 lakh share holders, the expected AR is around 81%.

      Me & my friend have tendered only 25 shares total out of our two accounts.
      We are very small investors. There will be too many micro investors like us.
      This will also increase the AR !

    previous major buyback like TCS , coal india and IOC takes 100 % and wipro also in past take 100 % so why there is too much discussion it will be 100 as per my point of view.

      Not at all friend it won’t be 100 %
      TCS was trading above buyback prize at the time of buyback date wipro is 30 % discount to buyback prize of 325.

    Acceptance Ratio will be 100% as every time AR by company is lower but when tender then all shares are accepted so do not get too much excited and worry it will be 100% forsure. enjoy share buyback of IT major and be relax.

    hi
    please tell me the ER(ebtitlement ratio) which would be received by email.
    thanks
    looking for both 2L

      ER = 42%
      AR to be declared…and as per experts like MARKET WIZARD it is around 60%

    11.53cr shrs ÷ 5.15 shr holder= 225approx shr per holder
    2.65lk bids× 225shrs= 5.80cr shrs approx
    4.85÷ 5.80= 83%. This was my calcultn.
    This is true If all hv tendered 225shrs.
    Lets hope for the best AR.

    MW ..can u pls tell about the impact of CMP on Final AR…how much it can affect the final AR…as u told 60% AR (Assumption)

    Forwarded!!

    Out of 5,15,732 retail shareholders on record date, bids came for just 2.74 lakh apps

    around 10,000 bids r from non-retail category, so retail bids r only 2.64 lakh against 5.15 lakh

    Hence around 2.5 lakh shareholders didn’t participated in the buyback, so *safe to assume 60% acceptance in Wipro now*

    Final bid at 3.30pm today on BSE is 476,12,69,531=1473.73% i.e. 14.74 times.

    MW pls provide valuable info regarding subscription ..as its last to tender shares

    How much individual subscription below 2 lac catagary, both in BSE NSE, which we need to know…

    Hi

    Promoters have offered upto 437.14 cr shares. This works out to 94% of the total subscription so far of 460.29 cr shares. So retail quota should definitely get between minimum of 60%. Cud be a bonus if you get close to 70%. Cheers

    Total 36 cr share under individual ( above 2 lakh plus below 2 lakh) and 18 cr share tender by individuals

    Looking at this the accept ratio should be 42-70 % …

    Wipro Update :
    2.37 lakh share holder participated in buy-back till now with an avg quantity of 370

    Expected AR should come above 60%. All the best to all.

      Sir we have 2 more days .. CMP is 249/- and BB Price is 325/-. Almost at 30% discount. I think more people will tender in last 2 days.. Because more than 30% is a big amount.. please give your inputs on the same..

      What is the source of this data? Can you also post the link or redirect us to the landing page?

      zerodha clients will be able to tender shares on last date…and we all know that zerodha has alot of active clients…

      ZERODHA BIGGEST BROKER OF INDIA HAS NOT YET PUT ORDERS ON PLATFORM OF BSE AND NSE SO I THINK 50% IS THE BEST CASE SCENARIO.

    Guys you can check our new ventures at http://www.sharetransferzone.com .

    Here we are helping people whose money is stuck with IEPF.

    So anyone of you having any issue or your friends are facing any issue regarding claim settlement can approach to us.

    Apart from IEPF claim we are providing gamut of services like.

    1. Demat of Shares.

    2. Retreiving of loss shares certificate.

    3. Name of legal heir change in share certificate.

    4. Succession certificate. Etc

    Please share with friends and in group if you feel it might be helpful for other.

    Thanks in Advance.

    Why suddenly everyone wants to sell Wipro shares? This never happened on any previous buyback.

    first of all, you should have shares on record date i.e. on 21/06/19
    or else you won’t be eligible.
    if you had on record date and sold afterwords then its ok you can apply on both the accounts on 27 .

    It’s 7.52 time oversubscribed omg what to do now?
    Individual investors tendered share on bse as of 26 aug 12:07
    1,56,06,85,390
    Now it’s looking hard even 50%

    Hi Sir,
    I have 2 accounts with 2 different persons PANs, one with Kotak and another with zerodha.
    Both I bough shares on 22ndAugust(Thursday) so those shares will come to my account on 26th Augutst EOD.

    So, I will see these shares on my account on 27th August.
    Do I need to wait to submit OFS till 27th.
    Or Can I do now it self(Even though shares are not in my demat account) ??

    Please tell me for both zerodha and kotak securities

    ***NSE DATA***

    Sr. No Category No of shares bid for
    1 Qualified Institutional Buyers(QIBs) 39,44,688
    1(a) Foreign Institutional Investors(FIIs) 92,668
    1(b) Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) 38,01,362
    1(c) Mutual funds 0
    1(d) Others 50,658
    2 Non Institutional Investors 1,42,700
    2(a) Corporates 1,39,210
    2(b) Others 3,490
    3 Individual Investors 1,12,18,118
    3(a) Individual 1,12,18,118
    Total 1,53,05,506

    ***BSE DATA***

    Sr.No. Category No. of shares bid for
    1 Qualified Institutional Buyers (QIBs) 5,18,48,467
    1(a) Foreign Institutional Investors (FIIs) 2,12,93,514
    1(b) Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) 40,34,433
    1(c) Mutual Funds 2,51,87,586
    1(D) Others 13,32,934
    2 Non Institutional Investors 7,95,104
    2(a) Corporates 5,31,943
    2(b) Others 2,63,161
    3 Individual Investors 11,18,28,488
    3(a) Individual 11,18,28,488
    Total 16,44,72,059

    So total buyback tendered as on 25.08.2019 under individual category is close to 12.71 Cr. Now consider 70% retail and 30% HNI among this ( assumption data only), then approximately 8 Cr retail tendered as on date.

    So AR accordingly would be somewhere around 50-60% though everything is an assumption.

    Hello,

    I have a query. I am using Zerodha and I have applied for buyback on 20th Aug. But when I check the status of buyback,it still shows “Pending”. Wanted to check if the buyback has been applied successfully.

    Regards
    Aman

      ZERODHA Punches the order on last day, so don’t worry it will be showing bid received on last day.

    I Purchase 600 Share before Record Date & Pledge this Share still today. In Karvy website they say Record not found. I am eligible for Buyback ? Pl. advice

    @admin @MW please help me
    suppose I had 600 shares before ex date and then i sold all my holdings after record date and if I buy 600 shares tomorrow and then tender them on 27 th aug ! what will happen then??
    what is the last date i can tender my shares on is it 28 th aug or 27 aug 6pm as mentioned on zerodha??
    if 28 th augst then till what time??
    thank you!

      first of all why to wait for last day to tender the share. Please tender today via Zerodha. The last date to tender is 28.08.2019, but you should have shares in your account before 28th to be eligible for tender.

        as in indian market it’s t+2 day for settlement so 23 as t 27 as 2 so i want to know whether i’ll be able to sell my holdings on 28th or 27th? it’s confusing

        Hi @WM,

        I have 2 accounts with 2 different persons PANs, one with Kotak and another with zerodha.
        Both I bough shares on 22ndAugust(Thursday) so those shares will come to my account on 26th Augutst EOD.

        So, I will see these shares on my account on 27th August.
        Do I need to wait to submit OFS till 27th.
        Or Can I do now it self(Even though shares are not in my demat account) ??

        Please tell me for both zerodha and kotak securities

    Till 3:30 pm today, 45.57% shares have been registered for BB. Still 5days are remaining. So likely more than 100% will be offered. AR may be around 60% .

    55-60% acceptance ratio is the most expected outcome…as seen in the past buybacks where number of new arbitrage investors are high,just as in the case wid wipro; and difference between buyback price and current market price is also high(30% in this case)..final acceptance ratio is not more than 1.5 times the official entitlement…recent example EClerx: official entitlement 12%,final acceptance around 16 %..similar was the case with HEG..

      Do you know about , Retail.

      As far me out of 32 crore shares, 4.8 crore shares are for Retail.
      I can see in NSE, Only 1 crore shares are applied.
      So its 20% of full. Isn’t it be 100% AR.

      Are you expecting in last 2 days, Many retail people will surrender ???

    Hi @WM/Others,

    Could you please clarify my below doubt , Please ??

    As per Wipro buyback mail, They mentioned they will buy back 32 crore shares.
    Retail is 15% => 4.8 crores ,
    As per NSE, So far only 1 crore shares tendered under retail category .
    https://www.nseindia.com/live_market/content/live_watch/tender_offer/tender_offer.htm

    Means, If I surrender all my 600 shares and till last date this NSE Number shows less than 4.8 crores means
    All my shares get tendered ???

    Please clarify, Fully confused.

      Please check Subscription status in both exchanges i.e. BSE and NSE. Add them and then see how much is the subscription figure. if the Individual category remains under 4.8 cr that means 100% of your shares will be accepted.

    Out of Retail Quota of 15% – ‭48,461,539 Shares – Bid by Individuals so far is 8,54,91,867 on BSE that is 2 times of retail Quota.
    Yet NSE Shows Retail Bid of 81,38,679 which is just 25% of Retail.. Going by NSE you have good chances of maximum Acceptance.. BSE Data possibly need a break up of Retail & HNI

      38% reached today , I think that,at this speed, it will not be subscribed totally. 🤔

    The subscription under retail investors has already crossed by more than 1 time in 2 days itself. so one shd be lucky to even get 50% AR

      The figure your are seeing is for Individual i.e. Retail and HNI both.

        I agree but this time chances dont look bright for retail. In any case the scrip is heading towards <200. so its a loss to the public in this buyback.

    I have wipro shares on the record date, but do not know How to participate in buyback process, I ask to upstox, they saying I have to submit the physical POA to Participate in buyback, is POA safe?

    Do we need to fill up DIS along with tender form? There are no such instructions in compony’s Mandate. But share broker asked for DIS. Unfortunately DIS booklet is misplaced.

      just call your broker and he willdo the remaining things,
      nothing else should be done.
      in zerodha that is also not required.

    I have not received buyback mail though I have bought almost 1 month before last date?? Whether I can eligible for buyback?

    THANKS, ADMIN FOR EXPLAINING THE CONCEPT CLEARLY.
    I AM EXPECTING THE AR AROUND 50%
    SO WILL BE BUYING 300 FROM MARKET AND WILL TENDER 300
    SO ALL OF MY SHARES WILL BE ACCEPTED AM I, RIGHT FRIENDS ??
    (HAD 600 ON RECORD DATE )

      Pls post in this how much you are tendering and how much are accepted in buyback.
      This will be a lesson to learn.

      Dr. Anil Yadav
      How many shares you Tendered in Wipro buy back
      and how much were accepted.
      It will be a good learning to know that
      Eagerly waiting for your reply
      Veterans
      Sundeep Yadav

    Members please clarify the buyback process.

    Shall i need to send Tender Form and TRS to Karvy?

    I have 650 shares.
    Since the general sentiment is that about 60% is the buyback, can I sell the rest of the shares before tendering ? Meaning can I sell 250 now and tender 400 shares of this ?

    My allotment would 60% of total 650 or 60% of 400

          This rule has changed. Now allotment will be only based on holding and not based on how much is tendered.

      It will depend upon a number of shares you were holding on the record date.

        Acceptance ratio will be based on tendering if no of shares and not holding on record date. Saying this on my personal experience on quick heal buyback.

          You are correct. Let us suppose you are holding 100 shares as on record date and we know as per LOF the minimum shares that Wipro buyback is 42% and as of today you are not holding any shares as you have sold out the next day of the record date. Moreover, suppose the final AR is 60%.

          Scenario-1

          You buy 50 shares from the market and tender all- AR in your case would be 100%

          Scenario-2

          You buy 60 shares from the market and tender all- AR in your case would be 100%

          Scenario-3

          You buy 100 shares from the market and tender all- AR is this case would be 60%.

          So AR for individuals varies depending upon the number of shares tendered. But it can’t be more than what you are holding on the record date.

      Your Entitlement 273/650 will be accepted, if you tender more than 273 then proportionate additional shares can be accepted based on total addition shares against unsubscribe portion.

    Market Staged smart recovery. If such recovery continues, we can expect higher Acceptance Ratio.

    Hi WM,

    What is your view on Expected AR ??
    Since markets are down do you think much retail people don’t participate in Buyback ??

      Most of the retail will participate in the buyback as market condition are poor. The expected AR is 60%.

      check with karvy website…type karvy wipro buyback….there u will get link to know wether u r eligible or not …

    I have bought the wipro shares on June 14, but i have not recieved email to submit for buy back; can some one let me know whom i should contact

    After reading all the experts’ explanations, it is advisable to tender all the shares held on record date

    wipro ltd buyback mail aaya hai.buyback me 600 share mese 252 share compny buyback karegi…

    @ Market Wizard
    This is the first time i am going for the buyback. So please guide me.

    Can you specify how to tender shares. I am holding shares through Upstox account. Letter of offer says we don’t need to send any Tender Form to Registrar Karvy and just need to ask the broker to tender the share.

    From my past experience.. I think AR will be between 55-60. Hope the share price goes beyond 300. Then all of us can exit easily from this script. May be towards the end of the acceptance window it will touch 300 only if the nifty shows some strength.

      it all depends on the price movement of the share in current price 265 dont expect must.
      i think AR will increse if price moves towards 290+.

    I purchased 358 shares on 18th April 2019. I have not done any transactions in Wipro after that. Can someone tell me why have I not received Wipro Buyback Tender?

    Thanks.

      you are eligible for buyback. don’t worry there might be some technical issue wait for few days then check with karvy.

    @ Market Wizard

    Can you please make a calculation for the actual AR given the 42% as the bottom. I mean, from your previous knowledge on buybacks with the assumptions on the number of shares that will be submitted in real.

    @ Market Wizard or any other Buy Back Gurus. Please reply me.

    I see Entitlement for Buyback (No. of Equity Shares) is 252 as per the email received. But I don’t think entitlement was fixed upfront in case of TCS 2018 Buy back.. Why is this different?

    Does this mean I cannot offer more than that many shares for buy back. I believe we can still go ahead and submit all shares….just in case if some one don’t offer the shares in buy back they can take my additional shares offered.

    Please tell me if am thinking right….

      Yes, you are correct. Go and tender all shares that you have in your pocket. As per my understanding, 60% of those will be accepted.

    I had 175 shares on record date and as per the buyback offer i can sell 73 shares through buyback. Can someone please tell me if i can sell the other 102 shares on Monday and apply for buyback of 73 shares on 14 August 2019?

    It’s 42 %. As a expected.
    Now people should stop dreaming about 70 – 75%.
    Enjoy the profit guys.

      42% is the minimum that will be bought from you.. As per my understanding, we can still offer all of them..AR will be more than 42 for sure…as not everybody will offer the shares…what say?

      very simple 20 % gone in taxes so 10400-20%=8320 cr.
      so buyback size is now 8320 cr.
      AR ratio will be according to the same.
      unless govt gives discount to wipro and say you are not liable to tax which seems difficult for present anti , market govt.

        First of all the buyback tax is not 20% but 23.92 effectively.

        Previously the buyback tax was applicable on Unlisted Companies and as per income tax act 115QA, the tax can be levied.

        The section provides that any amount of ‘distributed income’ by a domestic company on buyback of unlisted shares from a shareholder is chargeable to additional income-tax @ 20% (plus 12% surcharge and 4% health cess). The effective rate of buyback tax is 23.296%.

        The same act now is applicable on Listed Shares.

        The term ‘distributed income’ has been defined to mean the consideration paid by the company on buy-back of shares as reduced by the amount received by it for issue of such shares to be determined in the prescribed manner.

        So now the question is at what rate Wipro has issued shares which they are buying back at 325.

        let us suppose Wipro has issued shares at 200, then they need to pay following buyback tax.

        =323076923(number of shares)*( 325-200)*20%(buyback tax), then 12% surcharge and 4% education tax over it.

        Now the tax depends upon the price at which Wipro has issued these shares.

        So it is not that simple calculation.

        As I understand , the buyback size is same as originally proposed I.e 323076923 shares @ Rs 325, so the 20% tax is being born by the company.

    Final AR will not exceed 65% for sure. That’s the most optimist estimate.

      it depend upon various factors…mainly , CMP at the time of tender process… current tax policy levied by govt. , shares in account of shareholders on record date….

        Considering that the current market price is 20 percent less than the buyback price and the current market conditions, I guess most of the retail will participate in buyback. the acceptance ratio would be close to 50-55% only.

    You can download Tender form from Karvy Website. I have checked mine.
    ER is 42%.
    Means AS would be Atleast 70%.
    Market Wizard please give your input.

    Hi WM,

    Can you plz explain me the below line
    he Letter of Offer for the
    Buyback to eligible shareholders appearing on the record date of June 21 , 2019, on or
    before August 6, 2019.

    what is meant by or before Aug6.

    Can some one who is not having wipro shares on June21st but he is buying today is also eligible ??

      No. Those who are having shares in their Demat Account till 21.06.2019 are only eligible. This 6 August 2019 date is before which the letter of offer will be dispatched.

      Venkat If you buy today and hold it on the record date for the next buyback as and when announced by the company you will be eligible.

    When money credited in bank accounts?
    Please guide us MW
    and all members please inform immediate when anyone got mail of offer letter.
    All the best to all

      9th sep is settlement date…investors will get information regarding final acceptance around 5-6 sep…and final bank deposit will happen in next 3-4 days

    July 31 , 2019
    The Manager – Listing
    BSE Limited
    (BSE: 507685)
    The Manager – Listing
    National Stock Exchange of India Limited.
    (NSE: WIPRO)
    The Market Operations,
    NYSE, New York
    (NYSE: WIT)
    Dear Sir/Madam ,
    ••••• • ••••• •
    • • •••••• •
    wip. ·ro•iii: . · . …. •.•:. • • ••••••• • ••••••
    •••••
    Sub: Updates regarding the buyback of upto 32,30,76,923 (Thirty Two Crores Thirty
    Lakhs Seventy Six Thousand Nine Hundred and Twenty Three) fully paid up Equity
    Shares of the Company of the face value of Rs. 2 (Rupees Two only) each at a price of
    Rs. 325 (Rupees Three Hundred and Twenty Five Only) per Equity Share (“Buyback”)
    This is to inform you that the Company received final comments from the Securities and
    Exchange Board of India on July 30, 2019, with respect to the Draft Letter of Offer filed by
    the Company for the captioned Buyback.
    Pursuant thereto and in accordance with the Securities and Exchange Board of India (Buy-
    Back of Securities) Regulations, 2018, the Company will dispatch the Letter of Offer for the
    Buyback to eligible shareholders appearing on the record date of June 21 , 2019, on or
    before August 6, 2019.
    You are requested to take note of the following schedule of activities in relation to the
    Buyback:
    Date of Opening of the Buyback Offer Period
    Date of Closing of the Buyback Offer Period
    Last date for Settlement of bids on the Stock Exchange
    This is for your information and records.
    Thanking you,
    For Wipro Limited
    hi~
    M Sanaulla Khan
    Company Secretary
    Registered Office:
    Wipro Limited
    Doddakannelli
    Sarjapur Road
    Bengaluru 560 035
    India
    T : +91 (80) 2844 0011
    F : +91 (80) 2844 0054
    E : info@wipro.com
    W: wipro.com
    C : L32102KA1945PLC020800
    Wednesday, August 14, 2019
    Wednesday, August28, 2019
    Monday, September 9, 2019

    I was saying time and time in this group that please have a faith on Prem Ji words. The company which has created enormous wealth for investors will not go back on his words just because govt has introduced tax.

    Let us salute once again to Prem Ji to remain on his words.

    Cheers.

    Officially announced… 14 Aug to 28 Aug…. Tender date and 9 -Sept last date for settlement….

      Officially announced… 14 Aug to 28 Aug…. Tender date and 9 -Sept last date for settlement….

      Corporate Announcement
      Security Code : 507685 Company : WIPRO

      Announcement Under Reg. 30 Of SEBI LODR- Updates Regarding The Buyback Download PDF Download XBRL
      Exchange Received Time 31/07/2019 19:03:30 Exchange Disseminated Time 31/07/2019 19:03:36 Time Taken 00:00:06
      This is to inform you that the Company received final comments from the Securities and Exchange Board of India on July 30, 2019, with respect to the Draft Letter of Offer filed by the Company for the captioned Buyback.

      Pursuant thereto and in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, the Company will dispatch the Letter of Offer for the Buyback to eligible shareholders appearing on the record date of June 21, 2019, on or before August 6, 2019.

    From good source
    *SEBI approval received for Wipro buyback*

    Date 14 August
    Will close 28.August

    As per discussion with wipro company secretary sabi approval received.

      Dear patron. All are tensed about the buyback. Please share information which can help and not agonise people. If you really have some information please also share the source. Otherwise don’t post your opinions. Learn to respect the forum.

      IS THESE NEWS IS SURE OR RUMOUR IT IS BECAUSE I HAVE CALLED COMPANY YESTERDAY ONLY THEY TOLD SEBI APPROVAL IS PENDING

    i have bought 3200 shares wipro in cash market yesterday and buy 355 put option. when letter of offer came i am seeing a buy because people sold after record date. is it a gud strategy or not

      Hi Amit,

      Lot size for Wipro is 3,200.
      You didn’t mention your cost price for shares bough in cash.
      Put is 255 I think, 355 is far OTM put.

      Now, Market is weak and you might not bought strike price near to the cash price.
      So some loss is here.

      What you should have done is ,
      Buy 300 PUT and buy 3,200 shares.

          So, you have a risk of 7 Rupees.

          If Wipro Goes UP : Your shares goes up and , 3/ put will go to 0.
          So, In UP Side , wipro price should at least go more than 3/
          .

          In down side, You have 7 rupees risk.

          Personally, I don’t like.

          If you would have bought deep in the money put. That would have saved you. from this 7/ loss

            if offer for letter came then who has sold share will buy for tendering. so a spike anticipated upto 280 in short span of time

    It appears that you have posted your views as “INFORMATION”

      Yes, nothing officialy has come up as yet.

      Your silence means you have posted casually.
      Please be kind enough don’t treat this platform as your personal WhatsApp group where you can post any gossip.

    Wipro replies to our mail yesterday as under: “Dear Sir,

    Thank you for your email.

    As mentioned earlier, we are still awaiting SEBI approval. Upon receipt of the same, we will promptly commence the buyback offer process.

    Best Regards,
    Vinay”

    WIPRO buy back is on course and as per Azim Premji Letter buy Back process will be completed by Aug end. These are his committed words don’t spread any other rumor.

      Dear, I had copy pasted mail which is marked in “” commas till Vinay.

      And the bottom line which I stated from the Azim Premji letter to shareholders at AGM. That’s why I wrote do not spread rumour oof cancellation or date announcement..

      If anyone write to WIPRO investor desk he will get the same reply which I got that SEBI approval is pending. And as soon as approval got they will announce date and send Letter of Offer.

      Y Sebi taking time?..
      Probkem ho to wipro ko ho..Sebi ko kya problem he…?

      If anyine can mail sebi n can get the reply from sebi than its godd..

        Please don’t forget it is a Govt Organization. It is bound to take time.

    BUYBACK ME BAHUT TIME LIYA. BUYBACK HO GA YA NAHI. L&T KE JAISA GAI SAAL KI TARAH NA HO..

    As per 30th June shareholding, retail holding below 2 lakhs has increased to 18.57 cr. Retail reserved is around 4.48 cr. so ER conservatively comes to around 25%. Lets see how much improvement it will come in the tender form.

      This retail holding of 18.57 cr is for of share capital of 2 Lacs. At face value of Rs 2 this no is for share holders of up to 1 lac shares and holding value of up to 2.65 crs.

        The closing price as on cut-off date i.e 21st June was 286.85. Hence the cut-off qty for qualifying as retail holder is 697 shares. All share holders whose holding as on 21st June was not more than 697 are retail share holder. Aggregate (Total) of such shares will be taken for calculating ER. Also the reserved qty is not 4.48Crs it is 4.84Crs. We may have to wait for offer letter to know the exact figures.

    When does the buyback start ? Is the date declared? Now its tooo long wait!! 😞😞😞😩😩 . If it starts in mid August, then we’ll get money in month end I guess.

      The buyback would start approximately one week after the date of Offer letter and will remain open for 15 working days. Most probably it may come by end July or ist week of August. and entire process likely to be over by end August.

        Any expection of the AR ?

        The number of shareholders (less than 2 lakhs FV) has increased by 2 Lakhs and also the number of shares increased by 5 crores shares. Most of this would be in retail category of less than 695 shares 🙁

        Also, the tax on buyback – whether the SEBI would ask them to reduce from the buyback quantum of 10500 crores remains to be seen. In that case, the project would get delayed as it would call for further approval from shareholders etc.,

    The Board and the shareholders have approved a proposal to buyback equity shares of the company and the process will be completed by August 2019 subject to approval of SEBI.

    Hi, Have 2 lots of these and seems wipro is going ahead with buyback. Would like to know is sasken buyback happening or not ? I have 2 applications for this and this stock is bleeding…any news on buyback ? seems it is cancelled or something

    @MW,

    Please guide us, Whats happening
    Now, Its share buy back is there
    And its sure they are buying at 325/ Only

    But questions are
    1) Does the money which they decided for buy back remains same or will they do minus 20% tax.
    If they decrease the buyback money AR Will be lower.
    2) Any idea when they will buyback

      Venkat Ji,

      The FM has not yet cleared as how this tax will be levied. let the clarity comes. Yes whatever be the tax the same will be subtracted from buyback size and distributed among the shareholders.

      AR we will around 60-70% as more and more people are selling shares as it is going down.

        @MW sir,

        They are selling now.. But there name is available as per the record date and still they can buy once they will get the intimation letter based on there eligibility and participate. So can you please let us know how the AR will go up?

      The buyback tax will be borne by the shareholders who remain post buyback. The ones who are tendering will not be bearing any impact on this bb tax.

    i am new for buyback.
    kindly want expert advice.
    if i purchase 1 share of any company before record date so i am eligible for buyback
    now i gave that 1 share in tender offer in buyback and suppose AR is 20% only.
    so company will accept my that 1 share? or they will reject it.
    if Acceptance ratio is so less so in that case company have to accept 1 share from all eligible accounts or not?

      There is no rule like company should accept minimum 1 share.

      Your share only gets accepted if retail acceptance ration is 100%

      All the best 🙂

      1 share is given preference, and I have experienced it in HEG buyback. My one and only share was selected in that buyback.

    Looks like breakdown today after results.
    Wipro is teaching lesson to greedy retail investors like us.

    Wipro today reported a 12.6% year-on-year jump in Q1 profit to ₹2,388 crore, boosted by robust demand.
    5.5% increase in revenue.

    Will buyback happen
    And what about 20% tax
    Will company at that or shareholders

        Updates from Wipro on Buyback
        1) The Company had previously announced a buyback proposal for purchase of up to 323.1 million equity shares of ₹2 each from the shareholders on a proportionate basis by way of a tender offer at a price of ₹325 per equity share payable in cash for an aggregate amount not exceeding ₹ 105 billion.

        After receipt of shareholders’ approval, the Company has filed the draft letter of offer for the buyback with SEBI. Upon receipt of approval from SEBI, we will complete the buyback process. Found this on page no. 2 of this filling to the stock exchaange ( https://www.bseindia.com/xml-data/corpfiling/AttachLive/f86670f7-a856-43fa-bcd9-b9fbd211e543.pdf)

          Updates from Wipro on Buyback
          2) On April 16, 2019, the Board of Directors approved a proposal to buyback up to 323,076,923 equity shares of 2 each (representing 5.35% of total paid-up equity share capital) from the shareholders of the Company on a proportionate basis by way of a tender offer at a price of 325 per equity share for an aggregate amount not exceeding 105,000 million (“Buyback”) in accordance with the provisions of the Companies Act, 2013 and the SEBI (Buy-back of Securities) Regulations, 2018 (“Buyback Regulations”). Subsequently, the shareholders of the Company approved the Buyback through postal ballot (including e-voting) on June 1, 2019 and June 21, 2019 was fixed as the record date for the buyback. In accordance with the provisions of the Buyback Regulations, the Company filed the draft letter of offer for the Buyback with SEBI on June 12, 2019 and is awaiting comments on the same. Found this on page no. 14 of this filling to the stock exchange (https://www.bseindia.com/xml-data/corpfiling/AttachLive/2e883010-1a3b-4b1b-ab07-41472859183d.pdf)

            It is now clear from the filling to the exchange that “company is awaiting comments from the sebi regarding the buyback offer.” So they are not cancelling the buyback

            Big relief for many people who are still holding the shares and are trapped due to sudden announcement of buyback tax.

    March 2019 and also announced a
    buyback of ` 105 billion through buyback to the shareholders in April 2019. The shareholders have approved the proposal to buyback equity shares of the company and the process is likely to be completed by August 2019

    MOST OF THE PEOPLE ARE EXPECTING POOR NUMBERS IN RESULTS TODAY
    IF SAME HAPPENS IT CAN GO BELOW 250.

    WIPRO KA BUYBACK OPEN DATE KAB PATA CHALEGA. AUR BUYBACK HOGA KI NAHI.

    Anil Dont worry. I had told on record date this is heading towards 200. From there it will find a bottom. Nothing is alarming.

    BY JUST LOOKING ON WIPRO SHARE TRADING AROUND 256 IT SENSE LIKE SOMETHING BAD GOING TO HAPPEN.

      The big players are already exited before the record date. Only Retails who left is selling in anticipation of canceling of the buyback. For me, no such thing will gonna happen. Please have faith in management. Tomorrow picture will get clear.

      All bad news that could be possible has been priced in now and once the clarity comes in regarding the buyback you will again see spurt in the price.

    Kab tak govt soche gi…

    Finance Secy: No Decision On Raising Minimum Public Shareholding, Only Consultations Have Started All Cos To Have 25% Minimum Public Shareholding By August 2020

    Can Discuss Grandfathering Tax On Buybacks

    AR to be between 70 to 75% in the retail category. Good return to the patient investors.

    As on record date total number of retail shares are approx 11 cr.

    Total number is shares reserved for Retail are 4.8 cr.

    So Entitlement would be 43%

    Triveni Engineers send Letter of Buy Back to eligible shareholders. Buy back opens on 22/07/2019. Those who hold Triveni Engineering on record date, tighten you belt to tender in Buy Back.

    Dear all pl take a note that WIPRO will not cancel buyback like KRP Mill because KRP Mill could not take extra burden of 20% tax ober it’s buyback amount where as WIPRO has Rs 50000 Cr cash in reserve which will help it to pay the required tax easily. And WIPRO surely will do it because keeping too much cash in reserve is not healthy for it’s balance sheet. So some how they will have to reduce it’s cash balance.So do not worry.
    @MW what is your say about that??

      It is not yet clear on what amount this 23.296 Buyback Tax will be applicable. So let the clarification to come.

    SIR , I BUY 650. SHARES OF WIPRO IN MY 40 ACCOUNTSS APPROX AT 295 FOR BUYBACK AND DONT DO ANY TYPE OF HEDGING.. PLEASE SUGGEST ME WHAT I DO AT THIS STAGE…

    Finance Secy: No Decision On Raising Minimum Public Shareholding, Only Consultations Have Started

    All Cos To Have 25% Minimum Public Shareholding By August 2020

    Can Discuss Grandfathering Tax On Buybacks

      Former ED of SEBI JN GUPTA said to cnbctv18 KPR will have to approach the SEBI for an exemption. Once letter of offer filed and public announcement made, buyback can’t be withdrawn
      Also company can’t withdraw buyback once record date has passed

    Does anyone get the survey for the annual meeting?
    The subject of the email -> “Sub: Wipro Limited- Notice convening the 73rd Annual General Meeting (AGM) and the Annual Report for FY 2018-19”

    If anyone got, may I know please if I fill the survey, how it would impact my portfolio for buyback?

    WIPRO Buy Back: WIPRO replied as follows;
    Today
    Dear Shareholder,
    We thank you for your email and apologise for the delayed response.

    The draft letter of offer is pending with SEBI for its approval. Once approved we would be sending the letter of offer to all the shareholders.

    Thanks and Regards
    Vivek Karda

      DRAFT IS PENDING ???
      THEY ALREADY receive PERMISSION FROMSEBI I THINK

        SEBI approval was given in February for going ahead with a buyback proposal pending the amalgamation of other group companies. It was a go ahead for a bb. Now the approval for the current buyback draft is pending with SEBI. Hopefully the update would be announced during the board meet on 17th July

      Sir, we are positive that company with the stature of Wipro will not cancel buyback for just 2000 Cr extra tax when they have 50000 Cr Reserves in the books. However, the picture will become clear on 16th July 2019.

      The 20 per cent tax will be levied on the difference between the issue price and the buyback price of the share.

      So I think tax amount is not 2000 cr

      Is less then 500 cr

      Pls clarify

      As bse say today that
      Tax amount for buyback is not 92 cr

      It’s only 12 cr

    WHY IT IS DOWN SO MUCH,
    RUMOURS OF BUYBACK IS GETTING CANCELLED

      May be they can do so like KPR Mill did. Wipro’s AGM is schedule to meet on 16/07/2019. Mostly this issue will be take up there and you might see cancellation of the buyback offer.

    SH Kelkar record date for Buy Back was 20/6/2019 and they have dispatched Letter of Offer and their Buy Back opening on 15/07:2019. WIPRO Buy Back offer Letter will come soon. No Q of withdrawal or cancellation by WIPRO because they don’t have any problem with regards to BB Tax. It’s part of Back biz and they have travelled to this juncture of 2 lac Cr Mcap by good corporate governance.

      The comparision should be between DDT and buyback tax. Then we find the difference is less.

    Hello market wizard
    I suppose to buy Wipro share for buyback purpose so can I buy now because buy at 270 level but now is 265/- so can I buy now???or how much qty should I take it sir??? Please suggest me….,..

    Promoter will cancel if they don’t have urgent need for money and there is no legal hurdle.

    Other than that they have headache of reducing their shareholding to proposed 65%.

    Hi all,

    When can we sell WIPRO buyback shares?
    Any specific date or how….

    Pls guide me/us

    I have 1330 share of Wipro @290rs..can any suggest what government ammendment on buyback rules of Wipro..

    200 is on the cards. One will have to wait for 3 years before seeing 300 again.

    When will all the buyback process over
    N any budget impect is possible
    N any cancellations is possible or not
    Plz tell me I m waiting of ur reply

    Hi Gurus,

    If you can please clarify.

    1. If we say we have now 20% taxes on ‘capital Gain’ how can wipro deduct at source for buyback.I mean capital gain will be different for different people. So if this is not correct then what will happen with this buyback.Should I just sell my shares for wipro?

    2. Diversification – Do you think wipro will be part of this? As I see 74% of the shares are hold by it’s promoters? In this case the wipro price will probably be down?

    Thanks.

      Not possible now as Record date is already passed.

    The govt must have exempted the companies for which the buyback record date is already announced. This announcement caught small investors like me unaware. I bought 600 shares (holding 500 after record date)?and now going to incur 10-20% loss rather than planned 10% profit.

      For the companies where record date has passed, it is like retrospective tax. The provision should be from prospective effect so that people can take informed decision.

        In India, all such taxes are from retrospective effect as no govt care about long term negative effect on investors. They just want to get some money for their populist schemes.

    Future of buybacks doesn’t seem that bleak after all… Maybe Government PSUs are likely to announce more buybacks than before…As their promoter I.e the government stands to gain since it will get the tax also now along with the amount from the buyback share it tenders… N government also will be on a disinvestment spree…Of which buybacks is one of the way..

    Going forward, investors will not have to pay any capital gains tax on the shares tendered in a buyback. Instead, the company will deduct the 20 per cent distribution tax from the total buyback corpus and pay the balance amount to investors

      If wipro deducts 20% thenpayment will be approved 260. Who will surrender shares.

    This is a very good move by govt to target tax evaders. Premji was intelligently using this tool n not paying dividend. If it was upa these moves would never have been plugged leading to huge tax leakage. Hats off to modi for plugging this loophole.

      It’s company’s profit in which they have already paid tax . So it’s double taxation
      Premji is not tax invaders he is wise man.
      Don’t blame him to rescue this corrupt politicians in government

      From your logic promoters of TCS and Infosys are also big tax evaders.

      The action of buyback is as per the provision of law. It is unfortunate to say that it is tax avoidance. I think it is tax planning.

      Sir ,What was modi doing for five years. These buybacks started in modi govt

    No need to worry for current buyback
    But future of buyback is gone.
    Now only dividend will be given to shareholders bcz DDT IS 15 %
    BUYBACK tax is 20 %.
    What a bullshit this government is honest taxpayer are punished hard in this budget.

      Anilji, there are two big problem company in this 05/07/2019 modi budget promoter stake 65 % currently wipro stake in mkt 31/03/2019 74% and already declare buyback 2019 10500 Cr. and geverment budget 05/07/2019 20% buyback tax in past DDT IS 15% and unlisted company buyback tax 20% but this budget 2019 modi government listed company buyback 20% tax

      so many problem in mkt company promoter holding 65 % and above this company like tcs wipro d-mart selling presser in mkt.

      only sebi can cancelled this wipro buyback.

    But wipro not need to pay 20% Tax on Buyback as its already Submitted Draft letter for Buyback to SEBI on 17-June-2019. Its applicable for the upcoming buyback offer.

      This will take time I think more than 2 year
      It’s proposal SEBI has to pass , but they will pass for sure bcz it’s puppy of government.
      This will discourage good company they can prefer to not list only.

      @Market Wizard

      Is there any impact on Wipro Buyback?

      Please reply. Thanks in Advance.

        Should not. But they have to shed out 20% tax. That means close to 2000 Cr tax have to be given by Wipro to Govt. Let us wait for more clarity.

    Yes…*Budget Fineprint* In order to discourage the practice of avoiding Dividend Distribution Tax (DDT) through buy back of shares by listed companies, it is proposed to provide that listed companies shall also be liable to pay additional tax at 20% in case of buy back of share, as is the case currently for unlisted companies. (Sentimental negative for IT companies where they announce buyback periodically)

    The criteria for buyback is maximum shares for upto 2 lacs. To meet this criteria I shed off some shares before Ex Date. Now can I buy more shares and offer for Buyback?

    Hii.. What is the next step now.. Do we get a mail or something? When should we expect that mail?

      mail is likely to come in 1st phase of july …and entitlement ratio will be mentioned there…expected ER would be 50%….AR would differ by time factor

      It will be updated here as on when it will be announced.

    Board is meeting on 16th July. The BB dates will be announced in the meeting. Tentatively could open in 1st week of August

    I have couple of queries and would really appreciate if someone can confirm –

    Wipro buyback – my broker is saying that I cannot sell shares today (post ex date) and I need to keep the shares in the account until i tender in the buyback. Is that true ?

    Separately, I have a question on Mindtree – my dad owns some shares that he wants to tender in the open offer. How can he do that ? Will he receive an email from the Company ? Many thanks in advance for help.

      for wipro…u can sell shares on ex date or later…and when buyback window is to be opened ..then u can purchase shares and tender them in buyback…

      for mindtree…i hvnt gone through open offer buyback till now..but as per i know…in open offer , shares r sold in open market…they rnt repurchased by the company…

      You can very well sell shares now and then participate in the buyback.

        Many thanks for clarifying regarding Wipro. Any I sight around Mindtree ? I believe that this is open market is buying from the market while open offer, we would need to tender im a different way

    I fully sold out all wipro shares in both accounts at 289 rate , will not do same mistake of holding which i did in earlier buybacks . Also no hurry to buy again will buy around 260 now , buyback will take min 45 days to start so no urgency, will use cash elsewhere till then .

    kya ye bat sahi hai ke record date ke mahine ke undar buy back ho jana chahiye

      It will not happen within a month. Buyback process should be getting completed sometime in August.

        Thanks. I bought the share by the price of 297.60, keeping only the buyback in mind. Do you think it is a good decision?

      Even I had the same question, does anyone know when are the tender forms sent?

    MW, Can you suggest should we hold or sell the shares in Wipro as well and wait till bb?

      If you have not hedged then sell out shares.

      Bro the price is 285 right now
      So I don’t think there is any benefit in sellingnow
      Isn’t it better to wait for buyback

        FDC I have already told to sell all shares on ex-date and then wait for LOF.

        1:3 Bonus shares are also added. But share holders holding more than 699 shares will not be treated as retail share holders.

      3 cr new shares boughy means only 48000 demat ac…

      It may b more than 6 crs…

      1:3 Bonus shares are also added. But share holders holding more than 699 shares will not be treated as retail share holders.

    Whoever is in the money can sell safely on 24th. This will remain in the 250 to 280 range during the buyback process and will drift towards 200 post buyback. And the buyback process would start not earlier than August 2nd week.

      In next 1 to 3 days it will go below Rs 280 may be 270 or 275
      After buyback it will be 250 to 270

    Every one who is going to sell..
    I recommends that do not sell price will touch 320 before buyback.
    Today it is 285 bcz all big players know that everyonw will sell after recording for buyback so no point for them to keep price high.. They will buy at cheap price for 3 4 days and then price will go high to 320.
    And when price is so high u cant participate again tender youe share.
    So do think before selling. Invest money for more 30 days tender date will come fast this time

      If you hold wipro you will be in loss. in next 1 to 3 days it will go below Rs 280 may be 270 or 275
      After buyback it will be 250 to 270

        I DONT AGREE WITH YOU IT WILL NOW BEHAVE LIKE OTHER IT STOCKS it is 289 BCZ INCREASE IN CRUDE OIL PRICES AND WEAK DOLLAR. BUYBACK PART IS OVER NOW. IT MADE LOW OF 282 AND RECOVERD.

    Im having 695 shares at price of 287.60, 695*287.6=199882.
    Am i eligible for retail buyback?
    Also im having zerodha account, can i sell the shares today or i have to wait till tomorrow or Monday?

      u may sell it tmrw…and as per me around 630 shares are ok…MW plz reply

      Record date ke din jo close hoga x ur shares…if below 2 lacs than u will b eligible…or not…

      No you won’t bcz max limit is 615
      615*325= 199875
      But sure you are eligible in HNI CATEGORY.

      Closing rate on RECORD DATE X QUANTITY = BELOW 2 LACS will be eligible for buy back as per rule

      We can sell tell me tomorrow right ?
      For zerodha and kotak accounts

      If we sell tomorrow, Does shares remains on our name on record date at cut of time(which is tomorrow) ?

      When we buy shares are credited in 2 days
      When we sell they get debited in 1 day
      How is that possible

        Ask broker. To be eligible in the Wipro buyback the shares should remain in your account till 21.06.2019 which happened with most of the broker if you sell on Ex-date. However, what zerodha does, it removes the share from your account same day you sell and pools them in their own. So technically you don’t hold those shares on the record date.

          So this means, i can sell tomorrow in the buyback, but if i sell today, Zerodha gets the benefits?

          I have an account with Angel, IIFL, Zerodha, Upstox. All of this brokers are debiting shares on T+1 day through auto pay in and transferring them to their settlement a/c. So technically shares are not in your demat account on end of the day which is the record date.

          Only traditional brokers are providing option of Delivery Instruction Slip (DRS) for your market transactions. One can sell shares and give DRS to their DP with execution date as T+2

          I am holding 300 shares of Wipro and i am going to sell that tomorrow

      No one can sell as mostly all people has auto payin trading accounts and shares likely to get debited by tomorrow evening. And hence your demat a/c shows no holding on record date

      But if you feel stock price going to down then you can sell at CMP and cover the same before 3:30 PM.

    In zerodha on which date i can sell the shares to eligible for buyback 21 or 20 jun?
    Please clarify market wizard

      its upto u…price may fall to 270 level…but its nt sure that AR Would be high..

    AS ITS ALREADY AROUND 295 IT CAN EASILY GO TOWARDS 280 LEVEL ON 21 JUNE.

    Hi..MW…

    As today is last day to buy for buyback…
    Rates going dowm from last some days…

    So now apx AR?

    I am holding 650 Shares of Wipro. Will i be eligible under the retail portion ??
    I mean the Value under Rs 2 Lk. is it based on Buyback Price or Current Market Value
    pls clarify

    Any advise on wipro. I am holding 400 shares @ 289.75. Tomorrow is the last date.
    1) Should I exit or Should I stay for the buyback ?
    2) Should I exit after the record date and buyback as per the LoF ?
    3) Or to stay till the end and submit and see if the actual AR is yielding the maximum return ?

      exit if price is around 308..
      and if price stay around 295 then go for buyback

    MENE WIPRO KE 600 SHARE BUYBACK KE LIE KHARIDE HAI. KITNE SHARE BUYBACK MAI COMPNY LEGI.