Wipro shareholders approve Rs 12,000-crore share buyback

IT company Wipro shareholders have approved a share buyback programme worth Rs 12,000 crore, according to a scrutinizer report released on stock exchanges on Monday.

The Wipro board had approved the buyback of 26.96 crore equity shares at a price of Rs 445 apiece.

According to the Scrutinizer’s report on the special resolution by way of postal ballot and e-voting process, 99.9 per cent voted in favour of the share buyback resolution.

“The Chairman noted the results of voting as stated above and it was declared and recorded that the special resolution as set out in the Notice of Postal Ballot dated April 27, 2023, was duly passed by the shareholders on June 01, 2023, with requisite majority,” the report said.