The Hindu Business Line : Wipro AGM okays hike in share capital

SHAREHOLDERS of Wipro Ltd approved the company's plans to increase the authorised share capital of the company from Rs 100 crore to Rs 175 crore at the annual general meeting on Friday.

The increase in authorised share capital was primarily to take care of the issue of bonus shares, which was also approved by the members of the company at the same meeting, Wipro informed in a notice sent to the Bombay Stock Exchange. Wirpo is issuing bonus shares in the ratio of 2:1. The record date for the bonus issue is fixed as June 28.

Wipro, which is 84 per cent owned by the Chairman, Mr Azim Premji, has often been accused by the shareholders of low floating stock.

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