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Govt sells Rs 1,150 cr 'enemy' Wipro shares, state-owned firms major buyers

Enemy shares are called so as they were originally held by people who migrated to Pakistan or China and are not Indian citizens any longer.

Topics
Enemy Property  |  Wipro  |  Government Of India

BS Reporter  |  Mumbai 

The government on Thursday sold "enemy" shares worth Rs 1,150 crore in IT major Wipro, aiming to transfer the proceeds to its disinvestment kitty. Enemy shares are called so as they were originally held by people who migrated to Pakistan or China and are not Indian citizens any longer.

A total of 44.4 million shares, which were held by the Custodian of Enemy Property for India, were sold at Rs 259 apiece on the Bombay Stock Exchange, block deal data provided by the exchange showed. The buyers were state-owned Life Insurance Corporation of India (LIC), New India ...

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First Published: Thu, April 04 2019. 21:22 IST
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