Wipro Ltd., one of India's largest information technology companies, is set to issue a bonus share in a 1:1 ratio. This means that every eligible shareholder will receive one additional equity share for every fully paid-up share they hold. With nearly 22.4 lakh shareholders, this will result in a doubling of their shareholding without any additional investment. However, to qualify for the bonus issue, investors must acquire Wipro shares before the record date of December 3. While the quantity of shares will increase, the total value of the investment will remain the same as the share price will adjust to reflect the increased number of outstanding shares. The Securities and Exchange Board of India has also reduced the time taken for credit of bonus shares and their trading to two working days.
Wipro Announces 1:1 Bonus Issue: A Windfall for Shareholders
Background
Wipro Limited, a leading Indian multinational IT services and consulting company, recently announced a generous bonus share issue in a 1:1 ratio. This move follows the company's strong performance in recent quarters and reflects its commitment to rewarding its shareholders.
Details of the Bonus Issue
To be eligible for the bonus shares, investors must acquire Wipro shares before the ex-date. The bonus shares will be credited to the eligible shareholders' accounts within two working days.
Impact on Shareholders
This bonus issue will effectively double the number of Wipro shares held by eligible shareholders. While the quantity of shares will increase, the total value of the investment will remain the same. The share price will adjust to reflect the increased number of outstanding shares.
Top 5 FAQs Related to Wipro Bonus Issue
1. What is an ex-dividend date?
The ex-dividend date is the date on which an investor must buy a stock to be eligible for the next dividend payment. In the case of the Wipro bonus issue, the ex-date is November 29, 2022.
2. What is the record date?
The record date is the date on which a company determines the shareholders who are eligible to receive a dividend or bonus issue. For the Wipro bonus issue, the record date is December 3, 2022.
3. How many shares will I receive?
If you own 100 fully paid-up Wipro shares as of the record date, you will receive an additional 100 bonus shares.
4. Do I need to do anything to receive the bonus shares?
No, if you are an eligible shareholder, the bonus shares will be automatically credited to your account within two working days.
5. Will my total investment value change?
No, the total value of your investment will remain the same. The share price will adjust to reflect the increased number of outstanding shares.
Historical Context
This is not the first time Wipro has distributed bonus shares. In the past, the company has issued bonus shares in the following ratios:
These bonus issues have been well-received by shareholders and have contributed to the company's strong track record of rewarding investors.
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