Wipro board to consider issuing bonus shares

Mumbai: India's third-largest software exporter, Wipro, announced on Sunday that its board will consider issuing bonus shares to investors alongside its financial results for the quarter ending September 2024.

In an exchange filing, the company stated that its board would discuss the proposal for issuing bonus shares in accordance with the applicable provisions of the Companies Act, 2013, during a meeting scheduled for October 16-17.

Between 1987 and 2019, Wipro has issued bonus shares 10 times. The most recent bonus issue was in 2019 when the company issued 1 bonus share for every 3 shares held.


Shareholders who own Wipro shares before the record date, which will be set by the company, will be eligible for the bonus shares. Bonus shares are typically issued to increase the liquidity of the stock and reduce its price, making it more affordable for investors.