The shareholders of India's third largest IT exporter Wipro Ltd are scheduled to meet today at the company's Electronic City, Campus in Bangalore to discuss and determine the fate of a proposed demerger of the company.

Wipro Ltd had said in November that it is planning to separate its IT and non-IT businesses. As a result of the demerger, Chairman Azim Premji will be able to concentrate better on its prime IT business. He is aiming to reduce the promoter's stake in the company through this demerger.

The company is planning to operate its non-IT businesses under the name, Wipro Enterprises Ltd, which will be an unlisted firm. On the other hand, the IT business will remain within publicly traded Wipro Ltd. The company's IT business accounts for 86 per cent of revenue and 94 per cent of operating profit of the company.

The company had said in a filing with the stock exchange, "The company would seek shareholders approval with or without modification for the scheme of arrangement between Wipro Ltd, Azim Premji Custodial Services Private Limited and Wipro Trademarks Holding Limited."

Chairman Azim Premji has said that the demerger of the operations will help in enhancing shareholder value and will provide momentum for growth to the company. Premji will continue to work as the chairman of Wipro and will also become the non-executive chairman of Wipro Enterprises. Depending upon regulatory approval, the demerger is expected to be completed next financial year.