Wipro Ltd recently announced a bonus issue in the ratio of 1:1, increasing the number of outstanding equity shares but reducing the share price. This is their first bonus issue since 2019, with previous bonus shares being issued in various ratios. The company's paid-up equity share capital is expected to be over Rs 20,925 crores after the bonus issue. Analysts believe that the current combination of a strong portfolio and new CEO make for a favorable risk-reward profile for investors.
Wipro Announces Bonus Share Issue: A Detailed Overview
Background:
Wipro Limited, an Indian multinational information technology services corporation, has recently announced a bonus share issue in the ratio of 1:1. This marks the company's first bonus issue since 2019, bringing the total number of bonus shares issued to date to 11.
Details of the Bonus Issue:
The bonus issue entails the distribution of one bonus share for every existing equity share held by investors. The record date for the bonus issue is March 17, 2023, and the bonus shares are expected to be credited to shareholders' accounts on or before April 11, 2023.
Impact on Share Price:
While bonus issues typically lead to an increase in the number of outstanding shares, they also result in a reduction in the share price. This is because the company's share capital remains unchanged, and the additional shares are essentially distributed to existing shareholders.
Analysts' Views:
Analysts have expressed positive views on Wipro's bonus issue, citing the company's strong portfolio and the appointment of a new CEO. They believe that this combination makes for a favorable risk-reward profile for investors.
Top 5 FAQs Related to Wipro's Bonus Issue:
1. What is the record date for the bonus issue? Answer: March 17, 2023
2. When will the bonus shares be credited to shareholders' accounts? Answer: On or before April 11, 2023
3. What is the ratio of the bonus issue? Answer: 1:1
4. What is the impact of the bonus issue on the company's share capital? Answer: It remains unchanged.
5. Is this the first bonus issue issued by Wipro? Answer: No, this is the eleventh bonus issue issued by the company.
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