While the SEBI buyback regulations define small shareholder as one who holds shares worth less than Rs 2 lakh on the record date, in the annual report companies are required to disclose data about shareholding of shareholders in different buckets like 0-100 shares, 101-500 shares and so on. As per the distribution of shareholding available in the FY18 Annual Report there were 263,566 shareholders holding upto 5000 shares of Wipro aggregating to 476.1 lakh shares (post 1:3 bonus in Mar- 19). Assuming that all these shares would be offered, then the theoretical acceptance ratio works out more than 100%. However this could change depending on new investors buying shares between 31-Mar-18 and the record date i.e. addition/deletion of shareholders post 31-Mar-18 holding shares worth less than Rs 2 lakhs.