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IT major Wipro has taken a decision to allot 18,819 equity shares, worth over Rs one crore at the current market price, to the eligible employees. The company has said that the shares will be issued 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.

The company 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.

Rishad, son of company’s founder Azim Premji, elevated to board. The firm reported 2.1 per cent rise in fourth quarter net profit to Rs 2,286.5 crore.

-kannamsai