“The Board of Directors shall consider the proposal for issue of bonus shares in accordance with the applicable provisions of the Companies Act, 2013 (including the rules and regulations thereunder) and the applicable provisions of the Securities and Exchange Board of India (Issuance of capital and capital stock). It’s planned.
Disclosure Requirements) Regulations at a meeting scheduled for October 16-17, 2018,” the company said in a filing.
Companies issue bonus shares to shareholders to increase the liquidity of their stock and to lower the stock price to make it more affordable for investors.
Bonus shares are paid in full for additional shares issued by a company to existing shareholders. When a company issues bonus shares, shareholders do not have to incur any additional costs to obtain the bonus shares. The number of bonus shares you receive depends on the number of company shares you already own.
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All shareholders who own shares of the Company prior to the record date established by the Company will be eligible to acquire 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 recommended dividends and other corporate activities.
On Friday, Wipro shares closed 0.66 per cent higher at Rs 528.45 on the NSE.
