Home / Markets / News / Wipro rises 3% on reports of Sebi approval for share buyback

Wipro rises 3% on reports of Sebi approval for share buyback

Wipro is set to announce its largest ever buyback of Rs 12,000 crore ($1.7 billion) following the Securities and Exchange Board of India's nod to the proposal, The Times of India reported.

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2 min read Last Updated : Apr 10 2019 | 2:05 PM IST

Wipro shares moved higher by 3 per cent to Rs 282 on the BSE after a news report said the company is likely to announce share buyback worth of Rs 12,000 crore.

IT major Wipro is set to announce its largest buyback of Rs 12,000 crore ($1.7 billion) following the Securities and Exchange Board of India's (Sebi) nod to the proposal, The Times of India reported.

The shares are likely to be bought at Rs 320 per share, a 17 per cent premium to the prevailing share price of Rs 273 on the BSE. The price is 33 per cent

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