Wipro IT Services approves issuance of up to USD 750 mn dollar denominated notes

Weekly F&O expiry: Nifty 50, Bank Nifty may end in green; charts, outlook, trade guide

On the weekly options expiry day, the wider trading range for NSE Nifty 50 index is 15,700-15,800; and for Bank Nifty index is 34,800-35,000.

The notes will be guaranteed by Wipro vide a corporate guarantee, it said.

IT services major Wipro on Thursday said its step-down subsidiary, Wipro IT Services, has approved a proposal for issuing US dollar denominated notes of up to USD 750 million.

The net proceeds of the notes, which are proposed to be listed on the Singapore Stock Exchange, are intended to be utilised for refinancing existing debt and general corporate purposes, a regulatory filing said.

Related News

  • Indians earned only $241 million from Bitcoin in 2020 while Americans made over $4B, Chinese more than $1B
  • Sansera Engineering files IPO-papers with SEBI; issue entirely an offer-for-sale
  • Franklin Templeton tries to calm investor fears: SEBI order not to hit other schemes, will move SAT

“…Wipro IT Services, a wholly owned step-down subsidiary of Wipro, incorporated under the laws of Delaware, United States of America (issuer) has approved the proposal for issuance of US dollar denominated notes in an aggregate principal amount of up to USD 750 million,” it added. The notes will be guaranteed by Wipro vide a corporate guarantee, it said.

The board of directors of the company, at their meeting held on June 9, 2021, granted its approval to “unconditionally and irrevocably” guarantee the due and prompt payment of the principal and interest and any additional amount payable in respect of the notes, as and when the same shall become and payable, Wipro said.

Sensex, Nifty end with gains on weekly expiry session; here’s what experts make of today’s trade

Sensex and Nifty regained positive momentum on Thursday and closed the weekly expiry session in the positive territory.

The guarantee is subject to the aggregate liability of the company not exceeding USD 865 million (115 per cent of the principal amount of the notes), it added.


Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

  1. Home
  2. MARKETS
  3. Wipro IT Services approves issuance of up to USD 750 mn dollar denominated&nbspnotes

Rakesh Jhunjhunwala-owned stock gains 20% in just 1 day; up 60% since April

Ion Exchange Ltd share price has skyrocketed 37% so far in June, and 60% since April. Ace investor Rakesh Jhunjhunwala trimmed his stake in Ion Exchange in the previous quarter January-March 2021.