Information technology major Wipro said on Tuesday that its Rs 9,500 crore share buy back (buy back shares) offer will start on December 29 and close on January 11, 2021.
New Delhi: Information technology major Wipro said on Tuesday that its Rs 9,500 crore share buy back (buy back shares) offer will start on December 29 and close on January 11, 2021.
The company said that its shareholders had approved a plan to buy back 23.75 crore shares of the company at a price of Rs 400 per share last month, which would cost a total of Rs 9,500 crore.
Wipro said in the regulatory notice, the company has received final comment from the Securities and Exchange Board of India on 21 December 2020 on the letter sent by the company for the buyback offer. The company will issue this offer letter to the eligible shareholders.
The company has kept a record date of December 11, 2020 for biobank eligibility. Regulatory information states that the offer to buy back shares will start on 29 December 2020 and will close on 11 January 2021. The last date for bid settlement in the stock market will be on or before 20 January 2021.
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