Wipro Enterprises - Compulsory Buy Back Proposed @ 367 ( Rs. 10 paid )

In a very surprising move ( Un Wipro like ) Promoters of Wipro Enterprises Limited have sought to Compulsorily Buy Out Non Promoter Shareholders  @ Rs. 367 for Rs. 10 Paid Up Share.

EGM , for this Resolution , has been fixed for 13 /01/2015 ,at Bangalore. ( Then Application would be filed with Karnataka High Court ).

Shareholders would oppose .

E VOTING IS FROM 08-01-15 (9 AM ) to 10-01-15 ( 6 PM )

Earlier compulsory buy out of minority share holders by Cadbury India , Nirma , Shakti MetDor etc was deeply resented by  minority shareholders

Instead of this compulsory Buy Back , Promoters should have got Wipro Enterprises listed in BSE / NSE.

http://www.rareindianshares.info/search?q=wipro+enterprises

For Annual Report 2013-14

http://www.rareindianshares.info/search?q=wipro+2014

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( All comments / facts given in good faith. Please recheck all points before taking any investment decision. No responsibility with this blog / writer