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Wipro gets nod to meet public holding rules by share transfer
May 9, 2013 / 4:23 PM / in 4 years

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.

People walk in the Wipro campus in Bangalore June 23, 2009. REUTERS/Punit Paranjpe/Files

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

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