Wipro Enterprises – Extinguishing Non-promoter holding

The Board of Wipro Enterprises (WEL) has called an Extra-ordinary General Meeting (EGM) on January 13, 2015 for reduction of share capital of the company. As per the proposal, all non promoter shareholders holding 1,61,86,577 equity shares will surrender their shares for a monetary consideration of Rs. 367 per share. This will result in reduction in paid-up equity share capital of WEL from Rs. 492 crore to Rs. 476 crore and WEL being completely owned by the promoters.

The full report can be downloaded here: Wipro Enterprises – Extinguishing Non-promoter holding