Shareholders' give green signal for Wipro's demerger

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

 

According to a latest update, the software giant Wipro has got shareholder’s approval to hive off company’s non-IT business into unlisted arm. 

To rewind: last month, Wipro announced that it will demerge its non-IT businesses like Consumer Care & Lighting into a new company in order to focus exclusively on information technology. 

Presently, Wipro has about 235,598 number of shareholders. However, only 393 shareholders were present at the Extra-ordinary General Meeting, including 18 from promoters and promoter groups.  

Sharing his view on the matter, Azim Premji, Chairman of IT major Wipro said, “The shareholder....See More