Wipro buyback date: IT major Wipro on Tuesday extended the closing date for its Rs 12,000 crore buyback offer due to the shift in stock market holiday to June 29, Thursday on the occasion of Bakra Eid.
Wipro buyback date: IT major Wipro on Tuesday extended the closing date for its Rs 12,000 crore buyback offer due to the shift in stock market holiday to June 29, Thursday on the occasion of Bakra Eid. Wipro’s buyback that opened on June 22 will now close on June 30, Friday instead of June 29, Thursday. As per Wipro’s regulatory filing, the company said, “On account of change in the working day from June 29, 2023, to June 28, 2023, SEBI vide its email dated June 27, 2023, has allowed extension in the tendering period by 1 (one) working day. Accordingly, the Buyback Closing Date will be Friday, June 30, 2023, instead of Thursday, June 29, 2023.”
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As per the guidance, a buyback is required to be kept open for 5 working days. Therefore, Wipro’s buyback which was set to close on June 29 since June 28 was seen as a public holiday.
Post Maharastra government shifted the date of the Bakrid festival to June 29 from June 28, exchanges have also made the changes including Wipro for its buyback offer.
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The tech giant added, “In addition to placing the bid through the Stock Broker, Eligible Shareholder holding Equity Shares in physical form should submit the duly filled in and signed Tender Form, TRS, and requisite documents to the Registrar to the Buyback before 5 PM on Friday, June 30, 2023.”
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Wipro’s buyback comprises 26.96 crore shares. The buyback price is set at Rs 445 per share with a total buyback size of Rs 12,000 crores. Within the retail category, 4 crore shares will be bought back with a total buyback size of Rs 1800 crores. For every 265 shares in the retail category, 26 shares will be accepted, indicating an entitlement ratio of 23.4 per cent.
