EX-99.2 3 d410432dex992.htm EX-99.2 EX-99.2

Exhibit 99.2

 

LOGO

July 20, 2017

The Manager - Listing

BSE Limited

(BSE: 507685)

The Manager - Listing

National Stock Exchange of India Limited

(NSE: WIPRO)

The Market Operations Department,

NYSE, New York

(NYSE: WIT)

Dear Sir/Madam,

Sub: Outcome of Board Meeting held on July 20, 2017

Further to our intimation dated July 14, 2017 and in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of Wipro Limited (the “Company”) at its meeting held on July 20, 2017 has approved a proposal to buyback up to 34,37,50,000 Equity Shares (Thirty Four Crores Thirty Seven Lakhs and Fifty Thousand Only) of the Company for an aggregate amount not exceeding Rs. 1,10,00,00,00,000/- (Rupees Eleven Thousand Crores Only) (hereinafter referred to as the “Buyback Size”), being 7.06% of the total paid up equity share capital, at Rs. 320/- (Rupees Three Hundred and Twenty only) per Equity Share (hereinafter “Buyback Price”and such buyback, the “Buyback”). The Buyback is proposed to be made from all existing shareholders of the Company (including persons who become shareholders by cancelling American Depository Receipts and receiving underlying Equity Shares) as on the record date on a proportionate basis under the tender offer route in accordance with the provisions contained in the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 (“Buyback Regulations”) and the Companies Act, 2013 and rules made thereunder. The Buyback Size does not include transaction costs viz. brokerage, applicable taxes such as securities transaction tax, GST, stamp duty, any expenses incurred or to be incurred for the Buyback like filing fees payable to the Securities and Exchange Board of India, advisors fees, public announcement publication expenses, printing and dispatch expenses and other incidental and related expenses.

Members of the promoter and promoter group of the Company have indicated their intention to participate in the proposed Buyback.

The proposed Buyback is subject to approval of shareholders by way of a special resolution through a postal ballot. The process, timelines and other requisite details with regard to the postal ballot will be communicated in due course.

The record date for the proposed Buyback will be determined in due course. The public announcement setting out the process, timelines and other requisite details will be released in due course in accordance with the Buyback Regulations.

 

LOGO

 

Registered Office:   
Wipro Limited    T : +91 (80) 2844 0011
Doddakannelli    F : +91 (80) 2844 0054
Sarjapur Road    E : info@wipro.com
Bengaluru 560 035    W: wipro.com
India    C : L32102KA1945PLC020800

 

1


LOGO

The Company has formed a committee to oversee and implement the Buyback and to do all such acts, deeds, matters and things as it may, in its absolute discretion, deem necessary, expedient, usual or proper in connection with the proposed Buyback.

The pre-Buyback shareholding pattern as of June 30, 2017 is enclosed as Annexure A.

This is for your information and records.

Thanking you,

For Wipro Limited

 

LOGO

M Sanaulla Khan

Company Secretary

ENCL: as above.

 

Business Unit:       Registered Office:   
Wipro Limited    T:+91 80 3029 2929    Wipro Limited    T : +91 (80) 2844 0011
Phase-1,    F:+91 80 3915 1760    Doddakannelli,    F :+91 (80)2844 0054
Electronic City,       Sarjapur Road,    E : info@wipro.com
Bengaluru- 560100,       Bengaluru 560 035,    W: wipro.com
India       India    C :L32102KA1945PLC020800

 

2


LOGO

Annexure A

Pre-Buyback Shareholding Pattern of the Company as of June 30, 2017

 

Shareholders

   No. of
shareholders
     No. of Shares      % of
Shares
 

Promoter and Promoter Group:

        

Individuals

     4        19,08,38,864        3.92  

Companies/Other Entities

     6        337,03,62,350        69.26  
  

 

 

    

 

 

    

 

 

 

Sub Total

     10        356,12,01,214        73.18  
  

 

 

    

 

 

    

 

 

 

Indian Financial Institutions

     40        17,75,40,564        3.64  

Banks

     12        13,01,101        0.03  

Mutual Funds

     123        10,35,55,625        2.13  
  

 

 

    

 

 

    

 

 

 

Sub Total

     175        28,23,97,290        5.80  
  

 

 

    

 

 

    

 

 

 

Foreign Holding:

        

Foreign Institutional Investors/Foreign Portfolio Investors

     590        49,61,95,504        10.20  

NRIs

     6,694        1,63,18,261        0.33  

ADRs

     1        10,01,35,914        2.06  

Foreign Nationals and Overseas Corporate Bodies

     11        3,73,94,536        0.77  
  

 

 

    

 

 

    

 

 

 

Sub Total

     7,296        65,00,44,215        13.36  
  

 

 

    

 

 

    

 

 

 

Indian Public, Corporates & Others

     248,861        37,25,05,935        7.66  
  

 

 

    

 

 

    

 

 

 

Total

     256,342        486,61,48,654        100.00  
  

 

 

    

 

 

    

 

 

 

 

LOGO

 

Business Unit:       Registered Office:   
Wipro Limited    T:+91 80 3029 2929    Wipro Limited    T : +91 (80) 2844 0011
Phase-1,    F:+91 80 39151760    Doddakannelli,    F : +91 (80) 2844 0054
Electronic City,       Sarjapur Road,    E : info@wipro.com
Bengaluru- 560100,       Bengaluru 560 035,    W : wipro.com
India       India    C : L32102KA1945PLC020800

 

3