​Now you can own a share of the Wipro pie. Know how

In a not-so-new move, Wipro has allotted 18,819 shares, worth about Rs one crore to its eligible employees at current market price. As per a news report by The Economic Times, the shares are being issued to the employees under the restricted stock unit plans of 2005 and 2007.

"Administrative Committee of Board of Directors has passed a resolution in their meeting held on April 20, 2015 to issue and allot 18,819 equity shares of Rs 2 each pursuant to exercise of the stock options by the eligible employees under Restricted Stock Unit Plan 2005 and Restricted Stock Unit Plan 2007," the company said in a filing on the BSE.
Besides, the Committee also passed a resolution to issue and allot 7,813 equity shares of par value of Rs 2 to JP Morgan Chase Bank, its depository as underlying shares in respect of ADRs (American Depositary Receipts) to be issued and allocated to the purchasers, pursuant to the exercise of the stock options granted to the employees under the ADS Restricted Stock Unit Plan- 2004.

The country's third largest software services firm Wipro yesterday reported 2.1% rise in fourth quarter net profit to Rs 2,286.5 crore, while it elevated founder Azim Premji's son Rishad to the board.

(Image: India Times)