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Wipro said on Tuesday that its shareholders have approved the company’s ₹ 9,500- crore share buyback plan.
Wipro’s board had last month approved a buyback proposal for purchase of up to 23.75 crore equity shares at ₹400 per share, aggregating up to ₹ 9,500 crore. The buyback offer size is 4.16 per cent.
In a filing with BSE, Wipro said the aforesaid resolution has been passed by members through postal ballot by a remote e-voting process with requisite majority. A total of 99.78 per cent of the votes were cast in favour of the buyback offer. The voting started on October 18 and ended on November 16.
In terms of the number of votes cast in favour of the resolution, there were 100 per cent votes in favour of the proposal by the promoters, 98.73 per cent by public shareholders and 98. 49 per cent by public non-institutional shareholders.
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