Companies

Wipro shareholders approve buyback

Our Bureau Bengaluru | Updated on November 17, 2020 Published on November 17, 2020

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.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on November 17, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.