Shares of Wipro Ltd. fell more than 4 percent on Friday, making it the top loser on the Nifty 50 index, as the stock turned ex-date for its ₹15,000 crore share buyback. Investors purchasing shares on or after June 5 will not be eligible to participate in the buyback, leading to selling pressure and a sharp decline in the stock price.

The company has fixed June 6, 2026, as the record date for determining shareholder eligibility for the buyback. Since Indian equity markets follow a T+1 settlement cycle, June 5 became the ex-date, meaning only shareholders who held Wipro shares before this date will qualify for the repurchase offer.

Wipro's board approved the buyback of equity shares at ₹250 per share through the tender offer route. The buyback price reflects a premium of approximately 22.5 percent compared to the stock's prevailing market price before the ex-date. The total size of the buyback stands at ₹15,000 crore, making it the largest share repurchase program undertaken by the IT services major.

A share buyback enables a company to repurchase its own shares from existing shareholders, reducing the outstanding share count and potentially improving earnings per share and return ratios. Such programs are often viewed as a sign of management confidence in the company's long-term prospects while also providing a mechanism to return surplus cash to shareholders.

Despite the attractive buyback premium, Wipro's stock has remained under pressure in 2026. The shares have declined nearly 24 percent year-to-date amid concerns over slowing demand in the global information technology services sector, delayed discretionary spending by clients, and uncertainty surrounding technology budgets in key international markets.