Wednesday, August 31, 2005

New Regulations ~ SEBI

New regulations announced this week by the country's stock market regulator, Securities and Exchange Board of India, require Wipro to offer at least 25 per cent shares for public trading. Companies will be given two years to comply with the new rules.

India's richest resident Azim Premji says he intends to cut his 82 per cent stake in Wipro Ltd, the country's third largest software exporter, but the pace and timing of it will be guided by his philanthropic commitments.
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