Wipro share auction nets only 71 bids

The auction of 3.5 crore Wipro shares by Azim Premji Trust was undersubscribed with bids coming for only 71 per cent of shares on offer at close of bidding hours on Wednesday.

According to latest data available,the offer for sale of Wipro shares saw bids for 2.47 crore shares as against 3.5 crore scrips on offer. Based on the minimum bidding price,the sale of 2.47 crore shares would fetch at least Rs 1,034 crore.