Wipro shares tank up to 8% as stock turns ex-date for ₹15,000 crore buyback

Wipro shares tumbled as much as 7.91% to ₹188.15 apiece on the NSE in the early trade on Friday, June 5, as the stock is trading ex-date for its ₹15,000 crore share buyback programme.

It must be noted that Thursday, June 4, was the last day for market participants to buy Wipro shares to be eligible for the share buyback programme.

On May 22, 2026, Wipro announced the record date for its largest-ever buyback worth ₹15,000 crore.

Details of Wipro's buyback programme

Wipro Chief Financial Officer Aparna Iyer, in the Q4 FY26 earnings call, said the Board of Directors has announced the buyback of shares worth ₹15,000 crore at ₹250 per share, subject to shareholder approval.

"In our recently concluded board meeting, the Board of Directors has announced a buyback of ₹15,000 crore at a price of ₹250 per share.

"Please note this is our largest buyback, and we expect to buy back 5.7% of our paid-up capital.

"Buyback is expected to be completed in Q1-27, subject to shareholder approval," Iyer said.

"Our endeavour has always been to return a substantial portion of the cash generated to our shareholders, and for FY26 alone, we distributed $1.3 billion of cash in the form of dividends, taking our total payout ratio for the three-year block ending FY26 to 88 per cent, which is significantly higher than our stated capital allocation policy," Iyer said at the company's Q4 earnings call.

Promoter participation and financial performance

The Bengaluru-headquartered firm, in an exchange filing, stated that members of the promoter and promoter group have indicated their intention to participate in the proposed share repurchase programme.

Wipro has formed a committee to oversee and implement the buyback process. The announcement came alongside the company's financial results for the quarter and year ended March 31, 2026.

Why does the stock usually fall on the ex-date?

A stock often trades lower on the ex-date date of a buyback due to a technical adjustment in pricing and eligibility.

When a company announces a share buyback, it offers shareholders a chance to sell shares back to the company, usually at a fixed price (often higher than the market price). To be eligible, you must own the shares before the record date.

Analysts explain that on the record date, the company checks who is eligible for the buyback, and from the ex-date onward, the stock price is adjusted because the “buyback value opportunity” is no longer available to new buyers.

So, the share price typically drops roughly in line with the buyback premium or arbitrage opportunity being removed.

• Investors who were only buying for the buyback benefit rush in before eligibility;
• After that point, demand reduces, and arbitrage traders exit positions;
• This leads to selling pressure and a price drop (like the ~5% fall you’re seeing).

In short, the fall is usually not negative news about the company, but a technical adjustment after the buyback opportunity is priced out of the stock.