Industry

Azim Premji writes to employees denying sale of stake in Wipro

Azim Premji

Azim Premji   | Photo Credit: AP

Azim Premji, who is also the majority shareholder in the company, in his email also said he "remain committed to Wipro."

India's third largest IT services company Wipro's promoter and billionaire Chairman Azim Premji on Monday wrote letter to its employees denying the stake sale news article that appeared in a news website.

Mr. Premji, who is also the majority shareholder in the company, in his email also said he "remain committed to Wipro." As on March 31, 2017 Azim Premji and his family own about 73.25% of the company.

In his email Mr. Premji wrote, "I remain as committed to Wipro as I have ever been. The news article about promoters of Wipro evaluating sale of their holding in the company is baseless and malicious. There is no truth to these unsubstantiated rumors."

Mr. Premji has transformed the company from a small regional vegetables oil company to an established global technology leader over the last 50 years.

"I continue to be incredibly excited about the potential of the IT industry and Wipro. I see enormous energy within the company to power the success of our clients and therefore the success of Wipro," Mr. Premji added in hie email.

On Monday an online news website had published a story stating that the promoters of Wipro Limited, are in the early stages of evaluating the sale of the company or some of its units.

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Printable version | Feb 25, 2020 9:07:35 PM | https://www.thehindu.com/business/Industry/azim-premji-writes-to-employees-denying-stake-sale/article18725161.ece

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