Sebi paves way for Wipro buybackSebi paves way for Wipro buyback

Sebi has granted certain exemptions to Wipro from buyback norms that could pave the way for the country’s third-largest IT services firm to come out with a fresh share repurchase programme.

Wipro had come out with a share buyback in November 2017. It has plans to come out with another buyback. According to the extant rules, a company can launch such a programme once in 12 months. However, under regulation 24 (ii) of the buyback norms, a firm cannot make public announcement for a share re-purchase during the pendency of any scheme of amalgamation.

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