INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Wipro shares advanced as much as 4.65 per cent in early trade on Wednesday after the scrip turned ex-bonus in the ratio of
1:3.
The scrip hit a high of Rs 285.40 in the early session, up more than 4 per cent
Wipro in February received approval from the majority of its shareholders for the issue of bonus shares and increase in authorised share
The firm had fixed March 7 as the record date to determine eligible shareholders for 1:3 bonus shares
by them.
In a regulatory filing, Wipro said the "resolutions have been approved by members with requisite majority and shall be deemed to
have been passed on February 22, 2019, being the last date of receipt of postal ballot forms/e-voting".
Consequently, the company's
authorised share capital stands increased from Rs 1,126.50 crore to Rs 2,526.50 crore by creation of additional 700 crore equity shares of
Rs 2 each, it added.
In its January filing, Wipro had said the company had an aggregate amount of Rs 46,847.9 crore as on December 2018 in
free reserves, securities premium account and capital redemption reserve account.
Ex-bonus means after the record date
It is the date on which the share price is adjusted on stock exchanges according to the bonus ratio
