Wipro, India\u2019s third-largest software services firm, on Wednesday said its shareholders have approved the company\u2019s Rs 11,000-crore buyback proposal. So far in 2017, companies having bought back nearly Rs 30,000 crore worth of shares. Should the buybacks of Wipro and Infosys be successful, India Inc would have completed close to Rs 54,000 crore in 2017. This would be the highest amount ever raised via buybacks; in 2016, buybacks worth Rs 27,000 crore were completed. Equities have hit new highs; the benchmark Sensex has put on 18.85% between January and now. At the current levels of 31,646.46, the gauge trades at a price -earnings multiple of over 18.64 times one-year estimated forward earnings. This is a big premium to the historical multiples. Much of the rally, market watchers say, has been driven by liquidity. Wipro had announced a proposal to buy back 34.37 crore shares of the company for an amount of Rs 11,000 crore in July. Earlier in June 2016, the Bengaluru-based company had completed a buyback of shares worth Rs 2,500 crore. The Wipro offer represents 7.06% of the fully paid-up equity capital of the company. Shares will be bought back at Rs 320 apiece, which is nearly 9.7% higher than the stock\u2019s closing price on BSE on Thursday of Rs 291.65. On August 19, the board of Infosys had approved a proposal to buy back shares worth Rs 13,000 crore. TCS completed its repurchase of shares worth Rs 16,000 crore in May 2017. TCS\u2019s buyback has been the biggest share repurchase offer in 18 years. Mphasis completed the buyback of shares worth Rs 1,103 crore in May 2017.In June 2017, HCL repurchased shares worth Rs 3,500 crore. Sebi fines individual for delayed disclosure of Wipro share sale Markets regulator Sebi has imposed a penalty of Rs 2 lakh on Sandeep Bhatnagar for delay in disclosing sale of Wipro shares as an employee in 2015. It could not immediately ascertained whether Bhatnagar is still an employee at Wipro as there is no specific mention about his current status in the Sebi order. The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against Bhatnagar, who was alleged to have not complied with PIT (Prohibition of Insider Trading) Regulations. A probe conducted by Sebi found that Bhatnagar, after seeking pre-clearance from Wipro on July 27, 2015, sold 2,237 shares of the IT major on August 3, 2015 for an estimated Rs 12,77,998.