Mon Dec 02 19:49:53 UTC 2024: ## Wipro to Double Shareholder Holdings with 1:1 Bonus Issue

**MUMBAI, INDIA –** IT giant Wipro Ltd. is set to reward its nearly 2.24 million shareholders with a 1:1 bonus share issue, effectively doubling their holdings. Shares will trade ex-bonus on Tuesday, December 5th.

The company’s board approved the bonus issue in October, setting December 3rd as the record date. This means investors holding Wipro shares by December 2nd will receive one additional share for every share they own. The bonus shares, with a face value of Rs 2 each, will be credited to demat accounts on December 4th and will be available for trading on December 5th, thanks to the recent SEBI implementation of a T+2 settlement cycle for bonus shares.

While the number of shares will double, the overall investment value will remain the same, as the share price will adjust accordingly on December 3rd. This is Wipro’s 14th bonus issue since 1971, with the last one occurring in March 2019.

Wipro’s share price closed at Rs 585 on Monday, up 1.24%, outperforming the benchmark Nifty 50 index. The stock has shown strong growth, rising 43.5% over the past year and 31.6% in the last six months. This bonus issue is seen as a way for the company to reward shareholders, boost liquidity, and maintain financial flexibility.

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