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Wipro Shares Trade High As Its Buyback Begins
The record date for the Wipro buyback was September 14 which means investors who held shares of the company on this date shall be eligible to tender their shares in the buyback offer.
The IT company's buyback or share repurchase programme that begain today triggered its share to a higher price on marginal terms.
Rs. 11000 crore buyback will enable investors to tender their shares in the offer from November 29 to December 13 as the company has decided to process the buyback via a tender offer.
The share was last seen trading at Rs. 297.95 against its previous close of Rs.294.85. The repurchase of 34.375 fully paid up equity shares at a price of Rs. 320 per share shall be made. The record date for the Wipro buyback was September 14 which means investors who held shares of the company on this date shall be eligible to tender their shares in the buyback offer.
Meanwhile the broader indices remain flattish on the back of North Korea missile concerns, GDP data for the September month that is to due to be released tomorrow and ahead of November expiry.
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