Wipro Takes Philanthropic Route to Boost Public Shareholdings


credit: Wikipedia

Wipro Ltd's Azim Premji has taken the philanthropic way in order to increase public shareholding by 25 percent minimum as mandated by the Securities and Exchange Board of India (SEBI).

Wipro's proposal has been approved by SEBI to meet the public shareholding minimum requirement through equity transfer shares by the promoter group to an "Irrevocable Independent Trust."

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