Wipro Limited has informed the Exchange regarding Results of Postal Ballot by remote e-voting process and Proceedings of the meeting
WIPRO · price
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Wipro Limited shareholders approved three special resolutions through postal ballot. First, Ms. Tulsi Naidu was re-appointed as Independent Director for a second 5-year term starting July 1, 2026, with 99.55% shareholder approval. Second, Ms. Laura Marie Miller was appointed as a new Independent Director for 5 years from April 1, 2026, with 99.81% approval. Third, shareholders approved a share buyback of up to 60 crore equity shares (5.72% of total capital) at Rs 250 per share, totaling up to Rs 15,000 crore, with 99.79% approval. The buyback represents approximately 25% of standalone and 20% of consolidated free reserves as of March 31, 2026. All three resolutions passed with overwhelming majority, with voter turnout of 89.15% of paid-up equity capital.
The share buyback of Rs 15,000 crore is positive for shareholders as it returns cash and may support stock price. The appointment of two independent directors with near-unanimous approval indicates strong shareholder confidence in board composition.