Bengaluru headquartered software services provider Wipro will consider a proposal for share buybacks during its board meetings on 26-27 April, the company informed the exchanges on Sunday. The quantum of share buyback was not disclosed.

The company will also announce its fourth quarter and full-year results on 27th April. The outcome of the Board meeting will be communicated to the stock exchanges soon after the conclusion of the meeting on Thursday April 27, 2023. On Friday, 21st April, the company’s share prices closed at Rs 368 per share, up 1.5%.

Wipro had last completed a Rs 9,500 crore share buyback in January 2021.

Wipro promoter Azim Premji and promoter companies tendered 22,89,04,785 shares worth Rs 9,156 crore during share buyback process held between December 2020 and January 2021. The company had disclosed that 23.75 crore equity shares were bought back under the buyback at a price of Rs 400 per equity share.

Last year, India’s largest IT services provider Tata Consultancy Services closed an Rs 18,000 crore share buyback in March 2022. Peer Infosys also completed its last round of Rs 9,300 crore share buyback in February this year.

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