Software exporter Wipro may consider another share buyback of up to $1-1.2 billion in the January-March quarter, The Times of India reported.
The National Company Law Tribunal (NCLT) is currently looking at Wipro’s proposal of merging Wipro Technologies Austria, Wipro Information Technologies Austria, NewLogic Technologies SARL and Appirio India Cloud Solutions with the company, the report said, adding that the company might go for a share buyback following the NCLT's approval to the merger.
Like Infosys, Wipro is coming off the one-year moratorium for a share buyback and is expected to buy back shares at a 20-25 percent premium to the current share price, the report said citing unnamed stock experts and analysts that the newspaper spoke to.
A buyback can only be done once in 12 months and Wipro last had a share buyback programme in November-December 2017.
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