Wipro: Wipro Board will consider issuing bonus shares

In an exchange document, the company stated that its board would discuss the proposed issue of bonus shares in accordance with applicable provisions of the Companies Act, 2013, during a meeting scheduled for October 16-17.

Between 1987 and 2019, Wipro issued bonus shares 10 times. The most recent bonus issue was in 2019, when the company issued 1 bonus share for every 3 shares held.

Shareholders who hold Wipro shares before the registration date, which will be defined by the company, will be entitled to the bonus shares. Bonus shares are typically issued to increase the liquidity of shares and reduce their price, making them more affordable to investors.