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Wipro Limited Announces 1:1 Bonus Share Issuance – Details & Record Date

The Board of Directors of Wipro Limited approved a bonus share issue on October 17, 2024, followed by shareholder approval via a remote e-voting process on November 21, 2024.

Bonus Share Ratio
The bonus shares will be issued at a 1:1 ratio, meaning shareholders will receive one bonus share for every existing share held. Eligible shareholders will be those listed in the Register of Members or the List of Beneficial Owners as of the record date decided by the Board of Directors.

Source of Funding
Funding for the bonus shares will be derived from Wipro Limited’s:

  • Free reserves
  • Securities premium account
  • Capital redemption reserve

Eligibility
Both equity shareholders and holders of American Depositary Shares (ADS) are entitled to receive bonus shares in the same 1:1 ratio.

Issuance Process
Bonus shares will be issued in dematerialized form and credited to shareholders’ accounts. For those holding shares in physical form, the bonus shares will be placed in a demat suspense account or a trust until a demat account is opened.

Approvals Required
Issuance to non-resident shareholders and foreign investors will require approval from the Reserve Bank of India (RBI) under the Foreign Exchange Management Act, 1999. Adjustments to employee stock options, Restricted Stock Units (RSUs), and Performance Stock Units (PSUs) in light of the bonus share issuance were also approved.

The Chairman of Wipro Limited confirmed the passage of the resolution on November 21, 2024.

Record Date for Bonus Share Issue

The record date for Wipro Limited’s bonus share issuance is set for Tuesday, December 3, 2024. Shareholders listed as of this date will be eligible to receive the bonus shares.

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