The ₹12,000-crore share buyback window of Wipro opens on Thursday. The IT major plans to buy back up to 26,96,62,921 shares of face value ₹2 each, accounting for 4.91 per cent of all equity shares through tender route on a proportionate basis. The company offered to buyback shares at ₹445. The stock on Wednesday closed at ₹386.

ICICI Securities said it believes that the acceptance ratio is likely to be over 60 per cent, considering the near 100 per cent acceptance ratio seen for small investors in the last buyback offer in 2020. “In this regard, we advise our clients to tender shares in the buyback, especially those clients who hold up to 449 shares (retail category). Currently, as per SEBI guidelines, 15 per cent of buyback (1,800 crore in Wipro’s case) is to be reserved for retail category (up to 2 lakh),” it said.

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The company had fixed June 16 as the record date, so shareholders whose names had appeared on the company’s book on that are only eligible to participate in the buyback offer.

The company’s promoters and promoter group have indicated their intention to participate in the buyback offer. According to the latest shareholding pattern available with the stock exchanges, promoter and promoter group held over 72.92 per cent stake in the company.