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Wipro shareholders approve bonus issue, increase in authorised share capital

Press Trust of India  |  New Delhi 

Sunday said it has received approval from majority of its shareholders for the issue of bonus shares and increase in authorised capital.

In January, Wipro's board had approved an issue of bonus shares wherein shareholders will get one for every three shares held by them.

In a regulatory filing, 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 capital stands increased from 1,126.50 crore to 2,526.50 crore by creation of additional 700 crore equity shares of 2 each, it added.

The filing said the 98.82 per cent votes cast were in favour of increasing the authorised share capital, and 99.81 per cent votes cast were in favour of offering bonus shares.

In its January filing, 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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, February 24 2019. 15:45 IST