Upstox Announcement Buy-Back offer Wipro Shares 11/12/2020

 

Buy-back of shares by Wipro

 

Wipro has declared a buy-back of its shares at Rs 400 and we’ve simplified the next steps for you! 

 

 

What is a buy-back and why should you opt for it?
It’s a corporate action where a company offers to buy-back its shares from the existing shareholders usually at a higher price than the market price. To learn more about a buy-back, click here

What does this offer mean for Wipro shareholders?
Existing shareholders holding Wipro shares as on 11th December, 2020 (which is the Record date can sell their shares back to Wipro for Rs. 400 by applying to their buy-back offer. Those who do not hold Wipro shares, can buy them by 9th December, 2020 at the current market price, to be eligible to apply for this buy-back.

How to apply for a buy-back?
Just follow these steps:

 

1.     Login into keystone.upstox.com with your client code and backoffice password

2.     Click on “Account” on the top of the header line

3.     Click on “Buy Back/ Turnover” from the drop down

4.     Click on “Apply” and enter the quantity

5.     Submit the request 

 

Note: Non-POA holders will need to enter a valid pin to authenticate the buy-back via EDIS to proceed.

When can you apply?

The buy-back offer is yet not open for bidding.

To know more about the application procedure, read the circular here

What to keep in mind while applying?

·         You can only apply for this buy-back if you hold shares of Wipro in your demat account as on 11th December, 2020. In case you don’t hold them, your last date to buy them and be eligible for the buy-back is today, 9th December, 2020.

·         You shouldn’t sell these shares on 10th or 11th December, 2020 if you’re interested to take part in the buy-back offer.

·         After applying and offering your shares up for a buy-back, you cannot sell them in the market and modify or cancel your original bid.

·         You can only sell these shares in the market If the company cancels the buy-back and you receive your shares back from the company.

·         You will receive the buy-back amount for the shares from Wipro / Registrar & Transfer Agent (RTA) directly into your bank account (this will be updated in the records of the depository as well).

·         All shares offered to Wipro for the buy-back might not be accepted. The number of shares that will be accepted will only be decided after the offer window closes. Those shares that are offered but not accepted by Wipro will be returned back to you in your Demat account.

 

That’s all about the Wipro buy-back! We will keep you updated on more info related to this offer, stay tuned.

 

 

CLICK HERE TO OPEN YOUR UPSTOX DEMAT ACOUNT

Happy Trading,

Upstox Authorised Partner.