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Wipro mulls buyback this year


Wipro today said that the board will consider a buyback this year, which will be its third consecutive one. In a filing to the exchanges, India’s fourth largest software exporter said that in its board meeting on the day of announcing its January-March results, it will consider a buyback. In February, Wipro had sought a nod from SEBI, as it was in the middle of a scheme of amalgamation of its four wholly-owned subsidiaries with itself. SEBI rules mandate that firms cannot go for a buyback offer in the event when an amalgamation is pending. It has completed two buyback programmes, which include an ₹11,000 crore buyback in 2017 and ₹2,500 crore in 2016.

Source: The Hindu