Wipro an­nounces Rs 11,000-cr buy­back

India Business Journal - - NEWS ROUND-UP -

Wipro has an­nounced a share buy­back pro­posal of Rs 11,000 crore, en­tail­ing 34.3 crore eq­uity shares at Rs 320 apiece. The buy­back of eq­uity shares are a part of the coun­try's third-largest IT com­pany's phi­los­o­phy to de­liver ef­fi­cient re­turns to share­hold­ers. In the pre­vi­ous fi­nan­cial year, Wipro had an­nounced a buy­back of 40 mil­lion shares or 1.62 per cent of the shares, amount­ing to Rs 2,500 crore at Rs 625 a share. In­fosys, TCS, Cog­nizant and MindTree have an­nounced share buy­backs this year.

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