Wipro Limited, India's third largest IT exporter, promoted by billionaire Azim Premeji intends to reduce the promoter's stake in the company through this demerger. Presently, the promoter holding in Wipro is about 78.31 per cent. As per SEBI guidelines the promoters would have had to pare their holdings in the company to below 75 per cent before June 2013. The market regulator has approved Wipro’s demerger route for the compliance of minimum public shareholding requirement.
Wipro Ltd is
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