<p>IT services major Wipro on Tuesday said its shareholders have approved its up to Rs 9,500 crore share buyback plan.</p>.<p>Wipro's board of directors had last month approved a buyback proposal for purchase of up to 23.75 crore equity shares at Rs 400 per share, aggregating to an amount of up to Rs 9,500 crore.</p>.<p>"...resolution (special resolution seeking approval for buyback of equity shares) has been passed by members through postal ballot by remote e-voting process with requisite majority," the company said in a regulatory filing on Tuesday.</p>.<p>The voting, which started on October 18 and ended on November 16, saw 99.78 per cent of the votes being cast in favour of the buyback offer.</p>.<p>There was 100 per cent voting in favour of the proposal by the promoters, 98.73 per cent by public institutional shareholders and 98.49 per cent by public non-institutional shareholders.</p>.<p>Wipro's larger rival Tata Consultancy Services (TCS) has also proposed a mega Rs 16,000-crore buyback plan at Rs 3,000 per equity share.</p>.<p>Last year, Wipro had undertaken a buyback programme of 32.31 crore shares at Rs 325 apiece, aggregating to about Rs 10,500 crore.</p>.<p>Wipro had previously announced a buyback worth Rs 11,000 crore in 2017, and Rs 2,500 crore in the year 2016.</p>
<p>IT services major Wipro on Tuesday said its shareholders have approved its up to Rs 9,500 crore share buyback plan.</p>.<p>Wipro's board of directors had last month approved a buyback proposal for purchase of up to 23.75 crore equity shares at Rs 400 per share, aggregating to an amount of up to Rs 9,500 crore.</p>.<p>"...resolution (special resolution seeking approval for buyback of equity shares) has been passed by members through postal ballot by remote e-voting process with requisite majority," the company said in a regulatory filing on Tuesday.</p>.<p>The voting, which started on October 18 and ended on November 16, saw 99.78 per cent of the votes being cast in favour of the buyback offer.</p>.<p>There was 100 per cent voting in favour of the proposal by the promoters, 98.73 per cent by public institutional shareholders and 98.49 per cent by public non-institutional shareholders.</p>.<p>Wipro's larger rival Tata Consultancy Services (TCS) has also proposed a mega Rs 16,000-crore buyback plan at Rs 3,000 per equity share.</p>.<p>Last year, Wipro had undertaken a buyback programme of 32.31 crore shares at Rs 325 apiece, aggregating to about Rs 10,500 crore.</p>.<p>Wipro had previously announced a buyback worth Rs 11,000 crore in 2017, and Rs 2,500 crore in the year 2016.</p>