IT services major Wipro is all set to launch it’s share buyback programme of Rs 9,500-crore which will commence on December 29.
Wipro’s buyback involves 23.75cr equity shares representing up to 4.16% of the total issued and paid-up Equity Share capital of the Company.
Buyback Price
A company has set the floor price of Rs 400 per equity share for the Buyback.
The experts believe that it is at 10% premium.
Buyback date
Wipro’s buyback will be open from 29th December,2020 till January 11, 2021.
The last date for settlement of bids on the stock exchange would be on or before January 20, 2021.
Promoters Holdings
The promoter’s of the company hold 4,22,99,45,033 equity shares or 74.01% of the Equity Shares in the total outstanding equity share capital.
Approved by
SEBI
Wipro received approval from SEBI to launch a share buyback programme on December 22.
SHAREHOLDERS
The company’s shareholders had approved the share buyback proposal on November 17.
Voting Results
There was 100 per cent voting in favour of the proposal by the promoters, 98.73 per cent by public institutional shareholders, and 98.49 per cent by public non-institutional shareholders.
Similar event in past
The company had also done a buyback of Rs 2,500 crore in 2016 and Rs 11,000 crore in 2017.
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