IT major Wipro has announced a substantial Rs 15,000-crore share buyback, signaling a major capital return to its shareholders. The corporate action, approved by the board, sets a fixed acquisition price of Rs 250 apiece for 60 crore equity shares. Crucially, the promoters and the promoter group have indicated their intention to participate in this buyback.The announcement details the buyback of up to 60 crore equity shares, which constitutes approximately 5.7% of the company’s total equity. This move marks a significant step in returning capital to investors following the recent declaration of an interim dividend of Rs 11/share.Decoding the Buyback: Premium Pricing and Participation
The buyback was formalized via the tender route...