Overview
- Wipro announced an expanded partnership with ServiceNow on May 29 to integrate its Wipro Intelligence suite into the ServiceNow AI Platform to deploy agentic AI workflows across IT, HR, procurement and cybersecurity.
- The company reiterated a share buyback of about 5.7% of equity at Rs250 per share, a program worth roughly Rs15,000 crore that the board approved in April.
- Wipro’s American Depositary Receipts jumped about 18.54% on the NYSE after the announcements, and India-listed shares rose roughly 4–5% the following session, helping lift the Nifty IT index.
- ADR holders must convert to domestic shares to take part in the buyback with conversion requests due to JPMorgan by 12:00 noon Eastern on June 2, 2026, and the local buyback record date reported as June 5.
- The deal and buyback together aim to show a growth path for AI productization at an Indian IT firm and could alter investor expectations about how generative AI will reshape traditional outsourcing work.