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% ]

    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 )

    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.

    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?

      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.

      yes
      but not on ex date i think.
      because they debit the share before record date

    Dear MW, can be make one lot short in future of Wipro, as we all know it will definately go down after ex date … Kindly advise as lot qty is havey….future@295

    In this post AR is mentiond above 90%
    Can that be possible ?

    I have one strategy with me
    1) Buy Shares in cash at 300/
    2) Buy 300 Put
    3) Sell 300 Call option
    Exit these all positions after the record date

    Buy acceptable shares again back from market once the minimum acceptable shares known

    So that eventhough Wipro falls to 200/ you are protected.

    Please share your thoughts

      It is a good strategy. However, for cash, we have discussed previously that buy around 280-285 level and sell everything on ex-date and then wait for LOF(Letter of Offer) to buy that many shares as per minimum entitlement to get benefit in buybacks.

        Sir
        Pls explain this Strategy with Action Dates & example if possible
        thanks

        Hi,

        Bought 600 shares from account 1 and 600 shares from account 2
        One in my kotak account other in my wife zerodha account

        Did hedging with options

        Can you tell me, can I exit on record date ??

          At what price did you buy 600 shares from each account and at what price did you hedge?

            I bought at 300
            Bought this month 300 put at 6.95
            Short sell this month 300 call at 2.15

            Exit everything together on record date.

            Plz let me know on which date I can exit ?

    I have about 200 shares of Wipro. To participate in the buy back till which date I need to keep the shares? Normally I want to sell just after buyback participation. And then based buyback AR I can buy those shares back. Also do you thing it is a right approach ?.

    I hold 6 shares at rs 295 each…. shall i buy 25 more shares at above 295 price….will all my shares be taken in buyback…is it worth buying…if i sell after record date…will i get profit

    Please discuss about wipro in this forum.
    Any idea what will be the price action from here till the record date?

      Looks 305…
      Also as price near to 300..
      MW plz update about ur view on AR?

        Not at all. I think 45 to 55% =max
        Don’t dream of 75 % in any case

      Other IT companies are doing good.. TCS is skyrocketing.. I think if any appriciation in dollar value it may surge beyond 310/-. Again thats on a bullish note.

    As per the share holding pattern mar 2019, no of shares held by retail share holder( 2 lakh category ) is 11.4 cr approx. That can increase once we close to record date which will definitely depend upon price also.
    And as retail quota suggest accectance of approx 5 cr shares.
    So my opinion is AR can be in between 50-60 %.
    Correct me if i am wrong.

    Record date is not updated?
    Any idea what will be the maximum upside before the record date ?

    21st june is fixed as record date for a person to have shares in his/her demat acct. So from exhange one has to buy by 19th and 20th will be ex buyback. So for entitlement, if one has shares, they can sell on 20th and choose to buyback later to submit. However this strategy to my mind is not a good one. Either exit on 19th and forget buyback or retain.
    https://www.thehindubusinessline.com/companies/announcements/others/wipro-ltd-record-date-for-buyback-of-equity-shares/article27427831.ece

    Would it be prudent to sell a day prior to the ex date? (For those who don’t wish to participate in the actual buy back) And what would be the ex date for this? June the 19th?

    I sold my shares @295/- & booked rs 24000/- profit. Bought for buyback but not comfortable with market position right now, so sold out. Whole world is falling except India so anytime downward journey can start plus AR should be around 55 to 60 %. So booked whatever profit i had.

        I had 615 shares in my 5 family account. So 3075 shares avg @ 287. Sold @ 295 and seeing 291 live price now i am satisfied with whatever i got.

      As per the share holding pattern mar 2019, no of shares held by retail share holder( 2 lakh category ) is 11.4 cr approx. That can increase once we close to record date which will definitely depend upon price also.
      And as retail quota suggest accectance of approx 5 cr shares.
      So my opinion is AR can be in between 50-60 %.
      Correct me if i am wrong.
      Please give ur view sir..

    Can anybody guide me, how much Wipro fall on ex date in previous two BB, this will help in decision making….thanks

      Indicative price is 1657
      Close price 1667 if you want just 10 RS then only apply.

    Too many people are rushing for this buyback. The acceptance ratio will be as low as 60% in retail.

      but i will opt out from buyback as soon as price will mark around 310

        YES I ALSO, IF PRICE TOUCHES 310 BETTER TO SELL AND GET OUT.

      It can go down to 40%, as it happened in TCS.
      PLAN ACCORDINGLY

    I have already purchased 600 shares of Wipro.

    I would like to sell the shares & buy back again during the buy back period.

    If the record date is June 21st, when can I see the sell the shares? Is it June 19th (or) June 20th. Please advise.

    TIA

      Only after 21 June I think.
      Bcz if you sell on 20 June share goes out of demat same day then your name won’t be there on 21 record date.
      Plz correct me if wrong.

        It depends on the broker. Technically, the shares sell on 20th June should not go out of demat before 21st June. However, a broker like Zerodha deduct shares and pool them in there account. So it is always a risky proposition. I request all who are planning to do this must ask their broker in advance in writing so that later on they do not make any excuse. E-mail your broker and get written reply.

        Please see the link below which I have taken from BSE regarding the settlement of Trade which clearly indicates that shares/money should be settled in T+2 day.

        https://d2un9pqbzgw43g.cloudfront.net/main/bse-settlement.png

          Despite the Settlement cycle is T+2, Due to auto pay in your stocks gets debited and transferred to pool account on T+1 which falls on 21/06/2019 (Record Date). However you still has a right to participate in the buyback offer. Please keep in mind that cumulative holding in brokers pool account is likely to be more than threshold limit of rs 2,00,000 and hence you might not eligible to be considered as small shareholder (Category of less than 200000)

            I think only those people who have not subscribed to auto pay in facility and still using the DIS can sell shares on 20/06/2018. They can submit their DIS to their DP with execution date as 24/06/2018.

            also i got msg frm my broker….record date is 21 june…but to participate in buyback one should buy shares till 17th june…

          I have account with zerodha so it will be advisable to hold until 21st.

          In that case, If My broker is zerodha
          I’m not allowed to sell on 20th June.

          which is bad, Because price will go down on that day, So should be first one to sell.

          Any alternative you know for this for zerodha accounts

            Please contact the broker and get the clarification.

        So from Zerodha, it is very clear that they won’t let you participate in buyback if you sell on Ex-date. So better to square off the position on 21.06.2019.

          Technically shares needs to be debited on T+2. I don’t understand why there are running Auto Pay In files before T+2. The only option left with us (Retail Investor) is to approach SEBI and apprised them about this situation. SEBI can issue guidelines regarding “Auto Pay In” of shares, which brokers are bound to follow.

      HOLD TILL 21 JUNE THAT’S THE CONCLUSION.
      BUT STOCK IS GOING TO FALL SHARPLY ON 20 JUNE ONLY.
      WE HAVE TO BEAR THIS.
      I DONT THINK WHOMSOEVER BOUGHT AROUND 285 ZONE OR LESS HAVE TO WORRY.

    MW..Kindly inform apxly…
    If still price remaing in d range of 290 to 295 till record date..

    What will b tha AR?

      AR should be around 80% if the price goes above 305. A lot of investors who bought around 278-282 level will come and book profit which will eventually improve AR.

    21 June it means one can buy on till 19 June to eligible for buyback
    What price should we expect till 19 June
    300+ or 305 or 310 as market are on all time high.

    Buyback approved but record date still not announced may be by the late evening it will be out.

      Postal ballot result are out
      Dear Sir/Madam
      Sub: Results of Postal Ballot and e-voting
      Furtherto our letter dated May 2,2019 and in accordance with the Regulation 44(3) of SEBI (Listing
      Obligations and Disclosure Requirements) Regulations,2015, please find enclosed the voting
      results and Scrutinizer’s Report forthe resolutions relating to approval for Buyback of Equity Shares
      and appointment of Mrs. Arundhati Bhattacharya (DlN 02011213) as an lndependent Director of
      the Company, as set out in the notice of postal ballot dated April 16, 2019.
      The aforesaid resolutions have been passed through Postal Ballot and e-voting by Members by
      requisite majority.
      Thanking You
      FoTWIPRO LIMITED

    Sluggish behaviour of Wipro is concern or not ?? It is hovering bet 285 – 90 since the announcement of buyback.
    This can lead to rapid fall in prices after record date ??

      yes price may fall after record date..thats why it is recommended to buy around 280…so even if price will fall …buyback profit % will nt be affected so much…

        MY average is 284. I hope I dont see negative returns post Buyback

        i hv same…but still cant figure out what could be the outcome as CMP is 290 and expected record date is 28 june…It may cross 300 in mean time ..

    Dear All

    Wipro *Postal Ballet Results* and *Record Date* expected to be declared on Monday…..

    Buyback Rate expected unchanged @325

    I have 10 share. will they consider all 10 share for buyback? please suggest

    http://bit.ly/2wmwn2u ~
    Source: EconomicTimes

    *SQ Insights (Beta)*
    Wipro wins deal from Fruit of the Loom

    BENGALURU: Wipro has got a multimillion-dollar technology services deal from American underwear maker Fruit of the Loom, a company owned by billionaire investor Warren Buffett’s Berkshire Hathaway.

        What would be the record date? Before or after June 3? What if I have bought today? Will I get a chance to tender those shares?

        on or after 3rd june , wipro will announce the record date….and it is assumed that atleast 15 days gap will be provided..so u hv atleast 15 trading days to participate in this buyback offer…

          Oh! Ok. So I can keep buying Wipro. I was circumspect as I thought the record date could be from the past. So I can safely go ahead and complete my purchase of close to 2 lac worth of shares from tomorrow onwards and still participate in the buy back offer(Till two working days prior to the record date). Is that correct?

    With 299.45 as 52 week high and currently trading @ 282.65, what are the chances to have share price rise to 325? what is the tenure to have it increased it to?

    Hi All,

    Wipro ADR share price = 4.50$ (roughly ₹312)

    And share price of Wipro today = 283.10

    Why such a difference?

    I’ve just taken 300 wipro share. Now the company will take back many shares in the buyback

      Increase you holding to 2 lakhs
      Then in buyback tender all your shares
      Almost every analyst is digesting 70-80% acceptance

      And make sure that you buy below 290
      No benefit in buying at 300

    I’ve just taken 300 people. Now the company will take back many shares in the buy back.

    Balrampur Chini
    I had 350 shares which I sold on record date. As per Market wizard 26 shares will be accepted. so I should buy 28 shares and tender 28 or should I buy 28 and tender 350.Basically all my 28 shared shares should be accepted. Your response is much appreciated. Thanks for the help
    I am new to Equity market and trying to understand the buyback process

      (i) Entitlement for Retail is 8.06%

      (ii) In your case, as you were holding 350 shares, minimum of 28 shares that will be accepted.

      (iii) So you need to buy 28 Shares from the market and then tender in the buyback. However, for buying wait for tomorrow election results.

    Should we buy wipro at 281 (CMO)
    Also I am thinking of selling l&t at cmp(1470)
    Any views

      Yes. tomorrow market can go haywire in any direction. better to book profit in L&T.

    Quick heal Ltd
    No. of Equity Shares held by me on Record Date being April 26, 2019
    500
    Entitlement for Buyback Offer in terms of no. of Equity Share
    82
    Now question is I have only 300 share in my demate.

    If I tender only 300 than how
    many share accepted by quick heal.
    If I buy another 200 share today and tender 500 share than how many accepted.

    Please reply Market Wizard sir.

      the no. of shares u will tender , acceptance will be acc. to such…if acc ratio will be 20%….then 60 shares will be accepted out of 300…but if u buy 200 more and tender 500 …then 100 Shares will be accepted….
      buying decision on 200 shares depends upon u….quick heal is already down…

      First of all 82 shares will be accepted by the company .
      ABOVE that no guarantee in terms of no of share accepted if someone doesn’t participate in the buyback(which is highly unlikely bcz low share price) then remaining share will be given to you .
      I think better to apply what you have don’t make a fresh purchase.

    Slowdown Blues: After Cognizant, IBM India fires 300 employees from the services division

    http://www.msn.com/en-in/money/news/slowdown-blues-after-cognizant-ibm-india-fires-300-employees-from-services-division/ar-AABmb3r?li=AAggbRN&ocid=1PRCDEFE

    The Effect of Artificial Intelligence and Machine Learning has started taking a toll on employees. In the future, if we want to have a job then we should be trained yourself better than machine else we will lose out.

      YES SIR COMPLETELY AGREE WITH YOU.
      It is good for the company because of the reduced labour cost and increases the profitability.

    Trade war is impacting IT shares today good opportunity or we should worry ??

    Is it a good time to buy Wipro or should we wait for further fall? I’m buying entirely to participate in buyback offer.
    As the record date is not yet announced i think we can still buy for participating in buyback offer.

      Buy half now it’s good price
      Later half can be bought after election result.
      Don’t expect major fall in Wipro

    Has the record date been announced …if yes pls update the main page.

      Where did you get this date from. Can you post the link. As i said earlier, record dt will only be fixed once shareholder approval is obtained, thus anytime post 3rd june

        I mean to say that the record date will be decided on 3 June after buyback gets approval of shareholders

    Wipro is not softing at all looks like 280 – 85 is not possible . Looks it will hover around 300 in few days.

    1. is the investor qualified for the buyback on the basis of number of shares held on the record date. I mean if he has worth rs 200000 shares on the record date of buyback and possible acceptance ratio is 50%, then is he qualified to tender shares worth rs 100000. But the question is, if he sells some of the shares ( say worth rs 100000, because expected acceptance ratio is 50% and offload remaining shares in open market) just day after the record date, is he eligible for the expected 50% acceptance ration or he should be having full shares on the closing date of buyback. Responses are welcome

      Irrespective of the Acceptance ratio, if you are eligible under buyback please sell everything one day before the record date. In fact, all big players sell there shares one day before the Record date and then wait for entitlement to announce and then buy accordingly.

        If follow this approach, will short term gains be applicable. As we sell just before record date. Then buy as per the eligibility and then tender it in buyback. We may earn profit will it be considered short term gain and taxed

      Yes you can sell in open market after record date. You still be eligible no need of holding till buyback ends.

      Acceptance ratio is based on the shares tendered for buyback and limited to the holding on record date. If you are having 2 lakh worth of shares on record date and tendering 1 Lakh for buyback, your eligibility is for shares worth one lakh only.

      If we sell before record date
      How come we will be eligible
      There won’t be any shares on record date then
      Isn’t it

      I think what market wizard means by selling a day before record dt is probably to imply that you still hold shares in record date ( since settlement is on t+2 basis. So what he probably means is selling on the day it becomes ex entitlement record dt in the exchange ( which is 2 days before the co record dt). Do check with brokers.
      I do not however adopt this strategy because it has its own pros and cons

    Cognizant considering job cuts after slashing growth target

    https://tech.economictimes.indiatimes.com/news/corporate/cognizant-considering-job-cuts-after-slashing-growth-target/69169108

    Cognizant’s troubles also hit the shares of its India-listed rivals. The top five IT companies lost about Rs 38,900 crore in market capitalization, ending down 1-4%. The Nifty IT index ended down 1.9% at 16,092.9, recording its worst one day fall since February 20 this year.

    So Wipro should be available up for grab around 280.

    Apr 19 is the cut off date to receive postal ballot , ie. that is the record date to participate in e voting,

    Checked BSE site :-
    The Postal Ballot Notice, together with Explanatory Statement and Postal Ballot Form, is being sent to the Members whose names appear on the Register of Members/list of Beneficial Owners received from the Registrar and Share Transfer Agent, National Securities Depository Limited (NSDL) and the Central Depository Services (India) Limited (CDSL) as on April 19, 2019 i.e. Cut-off date.

      Yes you are right.
      Got misleaded by news on mint site .

      I do not think so. This date was only gor the purpose of sending notices. Since the buyback has not been approved, i do not think this date of 19th april is the record date for eligibility. Can @marketwizard pls comfirm what i am saying is correct?

        Yes it looks like record date for postal ballots.
        News is misleading on various site.
        Thanks

    Wipro has fixed April 19, 2019 as record cut-off date for eligible shareholders for the buyback plan

    My view is that after record date price will fall to 260 levels , that is the most important factor . So do not buy above 290 in any case if you want to make money , acceptance will be around 50% and in the remaining 50% one may have to book loss of 30/- rs per share , so no point buying above 290 , try to buy as low as possible , i feel in days to come it will be available around 285 , so dont buy in a hurry .

      Is record date already set as 19th April 2019? So now can’t participate in Buy Back?

    I think ones who are looking at wipro buyback on retail category the following could be the guideline-
    1. Those who bought at 275-85 range, hold on and can consider exiting if the price goes above 305 with no record date in sight. And if record date is announced, hold on and then strategise. Maybe one can get a chance to do arbitrage by again buying below 290 levels.
    2. Those who have not bought till now, can buy in chunks of 25 % each with every 5 rs movement, upto a level of 300 ( though noy lucrative, but if the pricepoint remains at 300 till the buyback, expect 100% buyback.
    2(a). If however the price falls below 280, and /or the mkt is depressed due to any reason ( election result etc), be ready to accept thay buyback will be 60-70%, but u will still make money.
    3. As a thumb rule any one buying wipro today at abt 300 or more,in full quantity for buyback, is not doing the right thing. Better to wait and buy in lots at every decline if it happens. If it does not, then wait to observe the mkt and review closer to record date

    The postal ballot notice has been recd by the shareholders of wipto yesterday to give consent for the buyback.
    Think a timely step. Voting ends on 1st june.

    Pls m w suggest Wipro share price will down or not .I want to purchase shares for buyback

      Please don’t purchase now. Wait for 270-280 level to purchase. Whether that level comes or not is hard to judge at this moment.

        I DONT THINK 270-280 LEVEL WILL COME BEFORE RECORD DATE,
        BETTER TO BUY SMALL AMOUNT AT EVERY DIP OF 4-5 RUPEES FROM HERE.
        WE CAN GET THOSE LEVEL ONLY IF SOMETHING GOES WRONG ON 23 MAY OR ELSE IT WILL BE MISSED BUS.

      ha ha ,rate of wipro increase by RS 10 in just 7 days,After announcing of record date will increase further RS 10/-,now day by day going out of hand,

    Slightly off topic. Does any one have data on the subscription to the rights issue of Vodafone Idea ?

    Hello sir
    Can I buy this stock Wipro today for buy back purpose
    So can I eligible for that sir……

    WIPRO – 290+ ALREADY
    DO YOU ALL STILL FEELS WE WILL GET BELOW 280 LEVEL

    pls excuse for off the topic qstn.
    One query I have. Can I use my saving account to apply for my father’s right issue of vodafone idea ltd.
    Pls clarify any of the good self

    Wipro will cross 300 by this expiry. difficult to buy before completion of buyback

      only if rupee goes above the 71 mark. or else it will cross 300 near record date .

    As brokerages downgraded wipro it started going upword . Look it will remain above 290till record dates.

    Definitely not a good time to buy as per many technical analysis indicators. If buyback is between 90% – 100% INR50 upside is a good deal even if bought at 275. I would probably buy around 260/270. Exit if the stock hits between 315-325. Good luck everyone who is holding it. If one is willing to buy at this level, I would aim for price between 270-280 not beyond that

    Brokerage firm CLSA on Thursday reiterated a ‘Sell’ rating on Wipro with an unchanged price target of Rs 220 per share due to its growth and execution challenges. Weak Q1FY20 guidance of -1.4 percent to 0.6 percent QoQ suggests growth challenges will persist for the company, CLSA said.

    dear sir
    please inform me,
    If I have 100 share, then I get the benefit of buyback?

        I am having more than 100 wipros’s shares, how can I participate in this buyback? Kindly guide me, thank you

          Please wait for the buyback to open. We will inform once it will be announced.

    Buy Wipro; target of Rs 315: ICICI Direct
    ICICI Direct is bullish on Wipro has recommended buy rating on the stock with a target price of Rs 315 in its research report dated April 18, 2019.

    This research houses are so cunfusing…

      Even Angel Broking is again and again recommending Wipro shares. According to them, they have always beaten market estimates in their recommended shares and also that Wipro shares are grossly undervalued (according to them).
      However one thing to note is that the profits declared now are of Wipro Limited. There is no seperate listed entity for the tech division. Wipro also has a massive market of consumer durables. And consumer durables had severely suffered a beating in the last 1 year.

    There are near term challenges with WIPRO. The buyback however would depend upon how many people jump in to pick up the WIPRO shares. More the number of people onboard WIPRO the lesser would be probability of a good return. Institutions would use this opportunity to see offload shares to retailers.

    I hope few things can turn specially the Forex rate. Rupee should slip against the dollar. That would really boost the margins and cushion the expected wage hikes.

    It is very likely unaccepted shares will see the price of 250 -260 which was the prevailing price just a few weeks back. Buyback is juicy for people for those who bought at that range. For others they can take a risk and see where it goes.

    HDFC Securities’ research report on Wipro
    Target – 250

    We downgrade WIPRO to SELL (from Neutral), post the insipid 4QFY19 show and weak guidance. Revenue growth remains challenged and margins are peaking. The recent security breach raises questions about client’s data security and is a setback to Wipro’s reputation.</