Wipro, an Indian IT company, has received approval for a share buyback program worth INR 12,000 crore ($1.6 billion) from its shareholders, as per scrutinizer reports. The company’s board has approved the buyback of 26.96 crore equity shares at INR 445 apiece. The e-voting process commenced on May 3 and ended on June 1, with a resounding 99.9% of shareholders voting in favor of the resolution. Members of the promoter and promoter group of the company have also indicated their intention to participate in the buyback. Wipro competes with larger rivals like Tata Consultancy Services and Infosys in the IT services sector.
Wipro Shareholders Approve Rs 12,000-Crore Share Buyback
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