SynopsisWipro's Rs 15,000 crore share buyback, priced at a premium, is nearing its June 5 record date. Retail investors can potentially achieve double-digit returns over 2-3 months, with brokerages projecting high acceptance ratios based on past trends and lean retail shareholding.AgenciesWipro's significant Rs 15,000 crore share buyback is approaching its record date of June 5. Wipro shares are nearing their record date of June 5 for the much-awaited share buyback worth Rs 15,000 crore, at a premium of more than 24% from the previous closing price.The company in April had announced the share buyback at Rs 250 per share, marking the first such action announced by the IT major in nearly three years. Wipro's board approved the plan to buy back up to 60 crore shares, representing 5.7% of the total paid-up share capital, for an aggregate amount not exceeding Rs 15,000 crore.The buyback will be done via the tender route, and all shareholders, including those who received the equity shares after cancelling their American Depository Receipts (ADR), will be eligible to take part in the corporate action. Wipro said that promoters and promoter groups have indicated their intention to participate in the proposed buyback.The record date to determine the eligibility of shareholders who can tender shares in the buyback was fixed on June 5 (Friday). This means that investors willing to take part in the buyback process need to have the shares of the company in their demat accounts by the record date in order to be eligible to participate in the corporate action.Also read: How Wipro's Rs 15,000 crore share buyback offer can give double-digit returns in weak marketBuyback of shares refers to a corporate action where a company repurchases its own shares from the existing shareholders. Usually, the company purchases the shares at a higher price than the current levels, encouraging investors to participate. Typically, a company decides to buy back its shares in order to increase share value, utilise surplus cash, prevent hostile takeovers or increase promoter holdings.Why you should consider participating in Wipro’s share buybackTaking Wipro’s previous buyback trends and a relatively lean retail shareholding pattern into consideration, HDFC Securities came up with two investment scenarios. On the conservative side, the brokerage assumed a relatively lower acceptance ratio than the previous offer, that is around 45-50%. “This presents a compelling short-term opportunity for retail investors, offering a potential return (net) of 8-9% over a duration of 2–3 months,” it said.On the aggressive side, HDFC Securities said that there is a strong quantitative basis to project a high retail acceptance ratio in the range of 70–80% (acceptance ratio was at 78% in 2023). It added that this presents a short-term opportunity for retail investors, offering a potential return (net) of 13–14% over a duration of 2–3 months.Also read: Wipro promoters to join Rs 15,000 cr buyback. What it means for retail investors“Given this track record of outperformance and the prospect of stable returns amidst current market volatility, the acceptance ratio is expected to remain significantly higher. Consequently, we recommend a tactical "Buy" for retail investors looking to optimise short-term capital allocation by participating in the upcoming offer,” HDFC Securities said.Motilal Oswal Wealth Management meanwhile said that retail investors looking for short-term opportunities can buy the shares of Wipro. “Based on the last two buybacks of Wipro and very low retail shareholding, we expect the acceptance ratio to remain high in the range of 50-60% which could give a potential return of 11-13% (pre-tax) with a time frame of 2-3 months,” it added.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)Read More News on(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. 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