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Wipro sets share buyback price at Rs 320 a share; earmarks Rs 11,000 crore

The buyback will be conducted on a proportionate basis through the 'tender offer' route

Ayan Pramanik  |  Bengaluru 

Wipro
Logo of Wipro

Wipro, India’s third largest IT services firm, has announced its plan at Rs 320 a

The company said it would up to 343.75 million fully paid-up equity shares representing 7.06 per cent  of the total paid-up equity capital at a price of Rs 320 ($ 4.971) totalling up to Rs 11000 crore.

“The will be conducted on a proportionate basis through the “tender offer” route,” said the company in a statement.

is the latest among large technology firms that is offering cash back to shareholders. is returning around Rs 13,000 crore to buy nearly 5 per cent of stock from shareholders, while India’s largest services firm Tata Consultancy Services saw its oversubscribed.

First Published: Fri, September 01 2017. 11:45 IST
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