Azim Premji & other promoter groups sell 22.46 cr shares in Wipro\'s recent buyback

Azim Premji & other promoter groups sell 22.46 cr shares in Wipro's recent buyback

Early this year, the founder-chairman of Wipro pledged his 67% stake in the company to Azim Premji Foundation for education-focused philanthropic initiatives.ETtech  |  September 11, 2019, 16:04 IST
Azim Premji & other promoter groups sell 22.46 cr shares in Wipro's recent buyback
Azim Premji, Azim Premji Trust, and other promoter groups have together sold more than 22.46 crore shares worth more than Rs 7,300 crore during the recent share buyback of Wipro.

Apart from the promoter groups, Azim Premji Trust and Azim Premji together sold 5.28 crore shares worth more than Rs 1,716 crore.

Early this year, the founder-chairman of Wipro pledged his 67% stake in the company to Azim Premji Foundation for education-focused philanthropic initiatives.

The Bengaluru-headquartered IT services major also spent nearly Rs 10,500 crore to buy back 32.3 crore shares (32,30,76,923 shares) at Rs 325 apiece. The buyback was closed last month.

While Azim Premji partner representing Prazim Traders sold more than 6.03 crore shares; Azim Premji partner representing Zash Traders sold nearly 6.12 crore shares. Azim Premji partner representing Hasham Traders sold nearly 5.02 crore shares. Wipro bought back more than 1.34 crore shares from Life Insurance Corporation of India during this buyback.