Wipro is going in for a fresh ₹10,500-crore share buyback, for which it recently received clearance from SEBI.

The board, that met here on Tuesday, approved a proposal to buy back 323.1 million equity shares, or 5.35% of the total paid up equity capital, at ₹325 per share, from the shareholders on a proportionate basis by way of a tender offer.

This is the firm’s third buy-back programme.

The last one, worth ₹11,000 crore was in November 2017 at ₹320 per share while its first buy-back in December 2016 was worth ₹2,500 crore.

Responding to queries, on the buyback Wipro Chief Financial Officer Jatin Dalal said, “Our rigour of execution and focus on improved quality of revenue has resulted in operating margin expansion of 1.8% for the year. Our operating cash flows were robust and at 129.2% of our net income for the year. The announcement of buy-back of equity shares is part of our philosophy to deliver efficient returns to shareholders,’’ Jatin Dalal, chief financial officer, Wipro.

Wipro founder Azim Premji and his family may participate in the buy-back programme. Mr. Premji, as on December 2018, held a stake of 4.22% in Wipro with 25,44,51,816 equity shares. and Other shareholders in his family are his wife Yasmeen A Premji, his sons Rishad Azim Premji and Tariq Azim Premji.