Tech-major Wipro has communicated with exchange houses that shareholders have agreed to a Rs 11,000 crore buyback proposal. Exchange filings suggest that the company has received a special resolution for the proposal, and a total of 99.68% of voters favored the buyback offer. Nearly 343.75 million shares at a price of Rs 320 each will be purchased by the company.
By 2:30 PM on Thursday, the scrip extended its intra-day gain by Rs 5.80 points or 1.99% at 297.45 on the Bombay Stock Exchange.
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