Wipro shares climb over 4% as stock goes ex-bonus

WiproNSE 3.67 % shares advanced as much as 4.65 per cent in early trade on Wednesday after the scrip turned ex-bonus in the ratio of 1:3. 

The scrip hit a high of Rs 285.40 in the early session, up more than 4 per cent.

In January, Wipro’s board had approved an issue of bonus shares wherein shareholders will get one bonus share for every three shares held by them.

In a regulatory filing, Wipro said the "resolutions have been approved by members with requisite majority and shall be deemed to have been passed on February 22, 2019, being the last date of receipt of postal ballot forms/e-voting".

In a regulatory filing, Wipro said the "resolutions have been approved by members with requisite majority and shall be deemed to have been passed on February 22, 2019, being the last date of receipt of postal ballot forms/e-voting".

Consequently, the company's authorised share capital stands increased from Rs 1,126.50 crore to Rs 2,526.50 crore by creation of additional 700 crore equity shares of Rs 2 each, it

In its January filing, Wipro had said the company had an aggregate amount of Rs 46,847.9 crore as on December 2018 in free reserves, securities premium account and capital redemption reserve account.

Ex-bonus means after the record date. It is the date on which the share price is adjusted on stock exchanges according to the bonus ratio.