IT company Wipro said on Monday that it will open Rs. 11,000 crore share buyback scheme on November 29 for Rs. 320 a unit, at 8.6 percent premium over the current price. The company has announced to buy back over 34.37 crores fully paid-up equity shares of face value Rs. 2 each of the firm, representing up to 7.06 percent of the total paid-up equity share capital, from all the fully paid-up equity shareholders/ beneficial owners of the shares as on the record date of September 15, 2017, on a proportionate basis, it said in a regulatory filing.
Wipro will process the buyback through a tender offer route, at a price of Rs. 320 per equity share for an aggregate amount of up to Rs. 11,000 crore, as per the announcement.
"The eligible shareholder can tender equity shares in the buyback only during the tendering period which is from Wednesday, November 29, 2017, to Wednesday, December 13, 2017," the company said in the offer document.
Best Job Detail And Official News Page >>>
Read More Ripples Advisory
No comments:
Post a Comment