Shares of Wipro were trading marginally higher as the IT major kicked off its mega Rs 11,000-crore share buyback plan.

Wipro is looking to buy back up to 34.375 crore fully paid-up equity shares at Rs 320 apiece on a proportionate basis through the tender offer route. The buyback represents 7.06 per cent of the total paid-up share capital.

Shareholders whose name appeared as of September 14 were eligible to participate in the buyback. The buyback will close on December 13.

At 12.20 pm local time, the company shares were trading up by 0.34 per cent at Rs 295 on the BSE.

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