Wipro board approves Rs 9,500-crore share buyback; revenue up 1.4%

Wipro, India’s fourth-largest IT services company, on Tuesday approved a share buyback worth Rs 9,500 crore, having improved its performance in the second quarter of FY21 on several parameters, apart from giving a stronger outlook.

This is the second quarter in a row that the Bengaluru-based firm is going for a share buyback programme. 

The company is looking at buying 237.5 million equity shares, or 4.16 per cent of its paid-up capital, though the date of the programme has not been fixed. 

The buyback is proposed to be made from the shareholders on a proportionate basis under the tender-offer route, the company said