ADVANCE FINANCIAL MANAGEMENT (CASE ANALYSIS)
NABEEL SHAIKH
21BSPDD01C107
SECTION - A
What is Wipro buy back shares
Wipro had announced a buyback of up to 23,75,00,000 full
paid-up equity shares and the company adopted a tender
offer route for the buyback. It said, 23.75 crore equity shares
were bought back under the buyback at a price of ₹400 per
equity share. The total amount utilised in the buyback is
₹9,500 crore
How to participate in buyback?
1. Firstly, to be eligible for the buyback the investor should
have shares of Wipro Buyback 2020 in demat or physical form
as on record date [11.12.2020]
2. Once you have shares in demat you can participate in the
buyback process which is opening from [29.12.2020 to
11.01.2021] by selling your shares through your broker on
NSE or BSE.
3. Then on [20.01.2021] the payment will be given to you for
accepted shares and unaccepted shares will be returned to
your demat account.
Conclusion
The buyback is being undertaken by the company to return
surplus funds to the equity shareholders, which are over and
above its ordinary capital requirements and in excess of any
current investment plans, in an expedient, effective and cost
efficient manner.