Company: WIT
Filing Date: 2025-05-22
Form Type: 20-F
Source: 0000950170-25-076303
Chunk: 143

Company: WIPRO LTD
Filing Date: 2025-05-22
Form: 20-F
Item: Item 10
Chunk 143
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 shareholders. This includes details such as particulars of the related party, relationship and ownership of the related party, and financial performance of the related party, among others. This requirement was made effective for transactions undertaken after April 1, 2025. Vide its circular issued in March 2025, SEBI deferred this requirement to July 1, 2025.
Prohibition of Insider Trading Regulations, 2015
In May 2015, SEBI introduced the SEBI (Prohibition of Insider Trading) Regulations, 2015 (“PIT Regulations”) replacing the earlier framework of the SEBI (Insider Trading) Regulations, 1992. It was introduced with an aim of bringing the basic framework governing the regime of insider trading practices in line with the dynamic global scenario and to tighten the gaps in the existing norms.
Among the various disclosure procedures provided for in the PIT Regulations, constituting a Structured Digital Database (SDD) has been mandated by Regulation 3(5). This database shall contain records of all persons who are in possession of unpublished price sensitive information of the company and such database has to be maintained in a non-tamperable manner and must include timestamping and audit trail to ensure transparency and avoid any fabrication of data through editing.
Vide its notification dated December 4, 2024, SEBI has broadened the definition of connected persons to include the relatives of connected persons as against immediate relatives. SEBI has intended to bring into its ambit persons who may seemingly not occupy any position in a company but are in regular touch with the company and its officers and are involved in the know of the company’s operations by having possible access to unpublished price sensitive information about the company.
Further, vide its notification dated March 11, 2025, SEBI has broadened the definition of “unpublished price sensitive information” to include: fraud/defaults by the company, its promoter, director, KMP, or subsidiary or their arrest, whether occurred within India or abroad, the outcome of any litigation or dispute which may have an impact on the Company, and a change in ratings other than the ESG rating, among others.
Takeover Code
The Takeover Code is applicable to publicly listed Indian companies and to any person acquiring our equity shares or voting rights in the Company, including ADSs. Under the Takeover Code, upon the acquisition of 5% or more of equity shares or voting rights and every change of 2% thereafter (upward or downward) of the outstanding shares or voting rights