Bengaluru: Wipro said it has received approval for increase in authorised share capital and issue of bonus shares from the majority of its shareholders. The company notified the results of postal ballot in a stock exchange filing on Sunday. The IT services major had announced in January that its board approved an issue of bonus shares ensuring one bonus share to shareholders for every three held by them. Post the approval by the majority shareholders, Wipro’s authorised share capital stands increased from ₹1,126.50 crore to ₹2,526.50 crore by creation of additional 700 crore equity shares of ₹2 each. Consequently, the Memorandum of Association has been amended. Wipro said in its filing that 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”.

The company had last month said it had a total of ₹46,847.9 crore in free reserves, securities premium account and capital redemption reserve account as on December 31, 2018. According to the notification, 99.81% votes were in favour of issue of bonus shares and proposal for increased share capital received 98.82% vote. The company also said in another filing on Sunday that its board of directors had fixed March 7, 2019 as the record date to determine eligible shareholders entitled to receive the bonus equity shares (including stock dividend on ADS).