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
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
Trending On Reuters
U.S. President Barack Obama watched a dazzling parade of India's military might and cultural diversity on Monday, the second day of a visit trumpeted as a chance to establish a robust strategic partnership between the world's two largest democracies. Full Article
Indian economic growth forecasts pegged back, despite rate cuts: Reuters Poll. Full Article