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Business

Wipro Bonus Issuance: Wipro Board of Directors will consider issuance of equity bonus along with second quarter results.

MONews
MONews
5 Min Read
Wipro Bonus Issuance: Wipro Board of Directors will consider issuance of equity bonus along with second quarter results.
Wipro’s board will consider issuing bonus shares to investors along with its financial results for the quarter ended September 2024.

“The Board shall comply with the provisions of the Companies Act, 2013 (including the rules and regulations prescribed therein), Securities and Exchange Board of India (Issuance of Capital and

“Disclosure requirements) regulations have been announced at a meeting scheduled to be held on October 16-17, 2018,” the company said in a filing.

Companies issue bonus shares to shareholders to increase the liquidity of the stock and make it cheaper for investors.

Bonus shares are paid in full as additional shares issued by the company to existing shareholders. When a company issues bonus shares, shareholders do not have to incur additional costs to obtain them. The number of bonus shares you receive depends on how many shares of the company you already own.

All shareholders who own shares of the company prior to the record date determined by the company are entitled to receive additional shares.

Once allocated, bonus shares rank pari-passu in all respects, have the same rights as existing shares, and are entitled to full participation in all recommended dividends and other corporate activities.

On Friday, Wipro shares closed 0.66 per cent higher at Rs 528.45 on the NSE.

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