Wipro Limited has announced the allotment of equity shares under its employee stock option plans, effective April 21, 2026. The company allotted 3,41,897 equity shares under the ADS Restricted Stock Unit Plan 2004 and 37,984 equity shares under the Restricted Stock Unit Plan 2007, pursuant to the exercise of ESOPs by eligible employees.

The total allotment of 3,79,881 equity shares was communicated to both BSE Limited and National Stock Exchange of India Limited for their records and information purposes. The disclosure was formally submitted to the Manager-Listing departments of both stock exchanges.

ESOP Plan Details

The allotment was made under two specific ESOP plans established by the company:

The exercise of ESOPs represents the conversion of stock options into actual equity shares by eligible employees who have met the vesting requirements under the respective plans. This is a standard corporate governance practice aimed at employee retention and motivation through equity ownership.

The disclosure was signed by M Sanaulla Khan, Company Secretary of Wipro Limited, on April 21, 2026. The company's registered office is located at Doddakannelli, Sarjapur Road, Bengaluru 560 035, India. Wipro Limited is listed on both BSE (code: 507685) and NSE (symbol: WIPRO).

Wipro Limited faces continued analyst skepticism as Jefferies maintains its cautious stance on the IT services major. The global brokerage has reiterated its Underperform rating while setting a target price of ₹180 for the stock.

Key Rating Factors

Jefferies' decision to maintain the Underperform rating stems from multiple operational challenges facing the company:

Performance Concerns

The brokerage highlighted the company's Q4 performance miss as a significant factor in its rating decision. Limited growth visibility continues to weigh on the stock's prospects, reflecting broader challenges in the IT services sector.

Strategic Acquisitions Impact

Despite the overall cautious outlook, Jefferies acknowledged that the Harman acquisition is expected to provide some growth support to Wipro's business operations. This strategic move represents a positive development amid otherwise challenging market conditions.

Margin and Growth Outlook

Looking ahead, Jefferies expects the company to face a weak growth environment. The brokerage anticipates that margins will likely remain range-bound, indicating limited expansion potential in profitability metrics. This outlook reflects the competitive pressures and market dynamics affecting the IT services industry.