The board of information technology (IT) services company Wipro Ltd on Thursday approved a share buyback worth ₹12,000 crore, its biggest yet, in a bid to reward investors at a time tech stocks are facing the heat across the globe.
This is Wipro’s fourth buyback since 2016. It announced buybacks worth ₹2,500 crore, ₹11,000 crore, ₹10,500 crore and ₹9,500 crore in 2016, 2017, 2019 and 2020, respectively.
The company has proposed to buy back 269.6 million equity shares worth 4.91% stake at ₹445 each, a premium of 18.9% to Thursday’s closing of ₹374.35 per share on the Bombay Stock Exchange.
Esta historia es de la edición April 28, 2023 de Mint Mumbai.
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