Wipro’s offer consists of buy-back of up to 34,37,50,000 fully paid-up equity shares of the company of face value of Rs 2 at a price of Rs 320 per equity share on a proportionate basis through tender offer process.
September 15, 2017 is the record date for the purpose of determining the entitlement and the names of the equity shareholders who are eligible to participate in the buyback.
The buyback represents 7.06% of the total paid-up equity share capital of the company at a price of Rs 320 per equity share, payable in cash for an aggregate amount of up to Rs 11,000 crore.
The buyback size is 23.15% of the fully paid-up equity share capital and free reserves as per the audited standalone balance sheet of the company as on June 30, 2017.
Meanwhile, Nifty was trading at 10,120 level, up by 40 points and Sensex was trading at 32,313 level, up by 127 points as of 1036 hours on Thursday.
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