Wipro has announced a buyback of Rs 11,000 crore, which works out to about 7.1 per cent of the technology major’s equity capital. The buyback price is Rs 320, or a little over 11 per cent above the Friday’s close of Rs 286. Market players say the mega buyback offers retail shareholders an attractive arbitrage opportunity.
“Around 15 per cent of the buyback will have to be reserved for individual shareholders holding shares worth less than Rs 2 lakh in the company. The acceptance ratio for retail investors will be more than 50 per cent. Investors can still buy shares
