Wipro gets nod to meet public holding rules by share transfer
REUTERS - Wipro Ltd (WIPR.NS), India's third-largest software services provider, said the Securities and Exchange Board (SEBI) had approved its proposal to meet minimum public shareholding rules through a transfer of shares by its founder group to an independent trust.
SEBI has made it mandatory for listed companies to have at least 25 percent public shareholding by June.
As of the end of March, Wipro's founder group held a stake of about 78 percent in the company.
(Reporting by Aradhana Aravindan in Mumbai; Editing by David Holmes)
- Tweet this
- Share this
- Digg this
- Iran prosecutor gives government 30 days to block social media
- Islamic State closes in on Syrian town, refugees flood into Turkey
- Nationalist leader says Scots tricked out of independence
- Ghani named Afghan president-elect after deal to end election dispute
- SpaceX Falcon rocket blasts off from Florida
GROUP OF 20
The G20 leading nations say they are tantalisingly close to adding an extra $2 trillion to the global economy and creating millions of new jobs, but Europe's extended stagnation remains a major stumbling block. Full Article
Top rice exporter India importing over 100,000 T on temporary supply squeeze. Full Article