Indian IT company Wipro has launched its biggest share buyback programme worth INR120bn ($1.7bn). The buyback option is being offered at a premium of 15.4% to Wednesday’s closing price, and small retail investors with holdings under INR200,000 will be offered 15% of the total buyback sum. The deadline for applications is 29 June, and shareholders whose shares are accepted will receive consideration from the broker by 6 July, while shares bought back will be extinguished by 17 July, reducing the equity base of the company.
