Wipro shareholders approve up to ₹9,500 cr buyback plan

IT services major Wipro on Tuesday said its shareholders have approved its up to ₹9,500 crore share buyback plan.

Wipro’s board of directors had last month approved a buyback proposal for purchase of up to 23.75 crore equity shares at ₹400 per share, aggregating to an amount of up to ₹9,500 crore.

“…resolution (special resolution seeking approval for buyback of equity shares) has been passed by members through postal ballot by remote e-voting process with requisite majority,” the company said in a regulatory filing on Tuesday.