Wipro Stock Split: Why Is Wipro Share Trading At 50% Discount Today?

Wipro Stock Split: The shares of information and technology major Wipro are trading 50 per cent lower on Tuesday, turning ex-bonus in the ratio 1:1. Adjusted for the bonus share, the stock of the company was trading 49 per cent down from yesterday’s closing price of Rs 584.55 per equity share.

The 1:1 bonus ratio indicates that all the investors holding the Wipro share today will be eligible for the bonus share.

“The Board of Directors has fixed Tuesday, December 3, 2024, as the Record Date for the purpose of determining the equity shareholders of the Company eligible for bonus equity shares (including Stock Dividend on ADS) of the Company,” the company shared in an exchange filing.

As of September 30, Wipro had Rs 56,808 crore in free reserves, securities premium, and capital redemption reserves. 

Following the bonus issue, its paid-up equity share capital is expected to reach approximately Rs 20.93 billion, comprising 10.46 billion equity shares of Rs 2 each.

The exact number of bonus shares will be based on the fully paid-up equity share capital as of today's record date.

As of 01:14 am, the shares of the company were trading 0.75 per cent down at Rs 290.05 apiece.