Wipro has received its shareholders’ approval for its Rs 11,000-crore buyback proposal. The voting, which ended on August 28, saw 99.68% of the votes being cast in favour of the buyback offer. Last month, the Bengaluru-based firm had said it will purchase up to 343.75 million shares at Rs 320 ($4.95) per scrip. The total size of the offer will be up to Rs 11,000 crore ($1.7 billion).
Wipro is the country’s third-largest software services firm and is engaged in providing information technology solutions. It offers solutions for systems integration, information systems outsourcing, package implementation, system integration, network integration, software solutions and information technology services, software application development and maintenance and research and development services to corporations globally.
