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Wipro Increases Share Capital, Bonus Shares

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Software major Wipro Ltd has decided to increase the authorised share capital and issue bonus shares after a postal ballot and electronic voting were conducted from May 5 to June 3….reports Asian Lite News

“As decided by the company’s board on April 24-25, a postal ballot and electronic voting were conducted from May 5 to June 3 to seek approval of the members (shareholders) on the resolutions to increase the authorised share capital and issue bonus shares, said the IT major in a regulatory filing to the BSE.

The first resolution was on increasing the authorised share capital to Rs.1,126.50 crore from Rs 610 crore and the second to issue bonus shares and stock dividend as American Depository Shares (ADS) to their holders.

A total of 3,881 members, including 2,634 through postal ballot and 1,247 through e-voting system voted with assent, while 82 members, including 60 through postal ballot and 22 through e-voting system voted against the measure.

The number of votes cast (equity shares of Rs 2 each) by 2,634 members through postal ballot was 306,91,401 and 211,89,26,648 by 1,247 members through e-voting (99.98 per cent).

The number of votes cast by 60 members through postal ballot with dissent was 3,71,031 and by 22 through e-voting was 97,837 (0.02 per cent).