With nearly 50 companies launching buyback offers, shares worth Rs.34,468 crore were bought back in 2016-17, the highest in 19 years. IT major Wipro effected the biggest buyback by a private sector firm buying shares worth Rs.2,500 crore in June 2016. Government chose to tap cash-rich PSUs to meet its divestment target and took back as much as Rs.18,964 crore via buybacks.