Wipro share buyback to open on June 22, retail acceptance fixed at 23.4%

Wipro’s ₹12,000 crore ($1.58bn) share buyback programme, its largest in history, will open on June 22 and close on June 29. Wipro will buy back about 26.97 crore shares at a price of ₹445, which is a 17% premium over Monday’s closing price of ₹380. Small shareholders are eligible for the buyback if they hold 62 shares for every 265 shares. The buyback will extinguish 4.91% of shares and lead to an increase in the aggregate shareholding of the promoters to 73.37% from 72.91%.