Tender whatever Wipro shares you hold in the buyback: Sanjiv Bhasin

Sanjiv Bhasin of IIFL analysed the Wipro buyback offer in an interview with ETNow. Excerpts:

ET Now: Is not the Wipro buyback price at a substantial premium?
Sanjiv Bhasin: That is what we have seen. Both TCS and Wipro have come out with excellent buyback offers. Actually this is what shows the metal of the IT companies; when they announce a buyback it is truly very sound.

I think it is a big positive for shareholders. You should all tender whatever you hold because we think the margin scenario continues to be a downbeat, even though the new acquisition for Wipro may have played out well. We think it is fairly priced at this target.