Wipro jumps to 19-year high on bonus issue approval

NEW DELHI: A day after Wipro said it had received approval for increase in authorised share capital and issue of bonus shares from the majority of its shareholders, the company's shares jumped nearly 2 per cent to Rs 385.15, its highest level in 19 years.

The company notified the results of postal ballot in a stock exchange filing on Sunday.

The board of directors has fixed March 7, 2019 as the record date to determine eligible shareholders entitled to receive the bonus equity shares.


The IT services major had announced in January that its board approved an issue of bonus shares ensuring one bonus share to shareholders for every three held by them.

Post the approval by the majority shareholders, Wipro’s authorised share capital stands increased from Rs 1,126.50 crore to Rs 2,526.50 crore by creation of additional 700 crore equity shares of Rs 2 each.

Shares of the company closed 1.86 per cent higher at Rs 386.05 on BSE.