Wipro Ltd. has announced the opening of its share buyback on June 22, with a retail acceptance fixed at 23.4% of the total buyback size.
The buyback will remain open until June 29 and offers a fixed price of Rs 445 per share. Shareholders will be able to sell their shares on a proportionate basis, with the eligibility of selling 23.4 shares for every 100 shares held. This buyback is part of Wipro’s plan to return Rs 12,000 crore to its shareholders.
By reducing its share capital, Wipro aims to improve its financial ratios and attract more investors. The buyback is expected to be completed by July 6 . Seen as a positive development for Wipro and its shareholders, providing them an opportunity to sell shares at a premium to the market price.
The buyback is a positive development for Wipro shareholders. It will allow them to sell their shares at a premium to the market price. The buyback will also help Wipro to reduce its share capital.
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This will improve the company’s financial ratios and make it more attractive to investors.
The buyback is also likely to be well-received by investors, as it provides an opportunity to sell shares at a premium to the market price.
