Stocks

Wipro board approves ₹9,500 crore buyback plan at ₹400/share

Our Bureau Bengaluru | Updated on October 13, 2020 Published on October 13, 2020

Wipro Ltd has approved a proposal to buy back up to 23.75 crore equity shares of the Company for an aggregate amount not exceeding ₹9,500 crore being 4.16 per cent of the total paid-up equity share capital, at a price of ₹400 per equity share.

The buyback is proposed to be made from the existing shareholders of the company as on the record date on a proportionate basis under the tender offer route. Members of the promoter and promoter group of the company have indicated their intention to participate in the proposed buyback. The proposed buyback is subject to the approval of shareholders by way of a special resolution through a postal ballot. The process, timelines and other requisite details with regard to the postal ballot will be communicated in due course.

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Published on October 13, 2020
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