Wipro allots 89,474 shares to employees

MUMBAI: IT firm Wipro today said it has allotted 89,474 equity shares to eligible employees under the restricted stock unit plan (RSUP).

The administrative committee of the board of directors allotted these shares of Rs 2 each pursuant to the exercise of stock options to the staff, Wipro said in a filing to the Bombay Stock Exchange.

It also allotted 12,352 equity shares to JP Morgan Chase Bank, the company's depository, as underlying shares with respect to American depository receipts (ADRs) to be issued and allocated to the purchasers on the exercise of the stock options, it said.

Shares of the company closed at Rs 408.55, up 1.09 per cent from the previous close on the BSE.