IT services major Wipro has fixed June 5 as the record date for its Rs 15,000 crore share buyback, with analysts suggesting investors to consider buying shares of the company to participate in the corporate action.
Wipro has set the buyback price at Rs 250 per share, implying a premium of 23% over the stock’s previous closing price of Rs 203.11 apiece on NSE. This would mark the IT major’s first buyback in nearly three years.
