Wipro 1:1 Bonus Issue Announced; What About Record Date?

New Delhi: IT major Wipro on Thursday announced a 1:1 bonus share issue. The Board of Directors recommended the issue of bonus shares to shareholders (including stock dividends to ADS holders) in the ratio of 1:1 (1 equity share for every 1 equity share held), subject to the approval of shareholders.

What About Wipro 1:1 Bonus Share Issue Record Date?

Wipro said that it will announce the record date for bonus issue later.

"Recommended to the shareholders for their approval, through postal ballot, issue of bonus equity shares in the proportion of 1 :1, i.e., 1 (One) bonus equity share of ₹ 2/- each for every 1 (One) fully paid-up equity share held and a bonus issue [stock dividend on American Depositary Share (ADS)] of 1 (One) ADS for every 1 (One) ADS held, as on the record date, subject to approval of the Members of the Company. The record date for reckoning eligible shareholders (including ADS holders) entitled to receive bonus shares will be communicated later," Wipro said.

Wipro 2nd Quarter Report

Wipro reported 6.8 percent quarterly growth and 21.3 percent annual growth. The company's net income in the July-September period (Q2 FY25) was at Rs 3,209 crore.  

Gross revenue was Rs 22,300 crore ($2,662.6 million), an increase of 1.5 per cent (on-quarter) and a decrease of 1.0 per cent (YoY).

IT services segment revenue was at $2,660.1 million, an increase of 2.0 per cent (YoY) for the quarter ending September 30.

The company said in a statement that it expects revenue from the IT services business segment to be in the range of $2,607 million to $2,660 million for the ongoing festive quarter (Q3 FY25).

"Based on strong execution in Q2, we met our expectations for revenue growth, bookings, and margins. We continued to expand our top accounts, large deal bookings surpassed $1 billion once again, and Capco (acquired by Wipro in 2021) maintained its momentum for another consecutive quarter," CEO and Managing Director Srini Pallia said. He said that the company will continue to invest in strategic priorities and build a strong AI-powered Wipro. The earnings per share for the quarter was at Rs 6.14, an increase of 6.8 per cent (on-quarter), announced the company.

With IANS Inputs