Wipro share buyback: Record day tomorrow, double-digit return possible?

IT firm Wipro’s share buyback, worth Rs 12,000 crore ($1.6bn), may deliver substantial returns to small investors who invest during the remaining short window. Retail shareholders with holdings worth less than INR 2 lakh ($2,700) are eligible for up to 15% of the buyback, and are expected to see acceptance ratios of up to 40%, as analysts predict an overall acceptance rate of around 4%. Wipro intends to buy back less than 5% of its shares at a premium of 12.2% to current market value. However, the share price’s performance after past buybacks has varied.

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