IT services major Wipro Thursday sought shareholders' nod for its up to ₹10,500 crore share buyback offer. The company also sought shareholders' approval for the appointment former SBI chairperson Arundhati Bhattacharya as an independent director on its board. This is Wipro's third buyback programme. It had undertaken a ₹2,500 crore programme in 2016, and another ₹11,000 crore buyback offer in November-December 2017. As on March 31, 2019, promoters held 73.85 per cent shares, while 6.49 per cent stake was held by Indian financial institutions, banks and mutual funds.

Source: Mint May 03, 2019 06:00 UTC