Cyril Amarchand Mangaldas acted as Indian legal counsel to Wipro Limited (Wipro) in relation to its recent buyback of equity shares, aggregating to INR 12,000 crore.
The General Corporate Practice of Cyril Amarchand Mangaldas advised Wipro Limited on the transaction. The transaction was led by Aditya Prasad Partner; with support from Rohit Maheshwary, Associate; and Ipkshita Singh, Associate.
The buyback transaction involved acquisition of to 26,96,62,921 (Twenty Six Crore Ninety Six Lakh Sixty Two Thousand Nine Hundred and Twenty One only) fully paid-up equity shares of Rs. 2/-, aggregating to INR 12,000 crores. The Buyback was conducted under the “tender offer” route
The Buyback was approved by the board of directors of Wipro Limited on April 27th, 2023 and payment of consideration was made on July 05, 2023.
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About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With 1000 lawyers and 170 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2021.
