IT major announces Rs 45,500 crore in buybacks in 8 years. 

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Wipro has announced a buyback worth Rs 45,500 crore, the biggest ever in its history.

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The buyback will be conducted over eight years, from 2023 to 2031.

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The IT major will buy back up to 23.75 crore equity shares at a price of Rs 1,920 per share.

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The buyback price is at a premium of 26% to the current market price of Wipro shares.

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The buyback will reduce the number of outstanding shares and increase earnings per share for investors.

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The move is aimed at boosting shareholder value and returning surplus cash to investors.

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Wipro had earlier completed a buyback worth Rs 9,500 crore in 2019.

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The company has also announced a final dividend of Rs 4 per share for FY22.

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