Wipro shareholders approve up to Rs 9,500-cr buyback plan

IT services major Wipro on Tuesday said its shareholders have approved its up to Rs 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 Rs 400 per share, aggregating to an amount of up to Rs 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.

The voting, which started on October 18 and ended on November 16, saw 99.78 per cent of the votes being cast in favour of the buyback offer.