Business

Promoters sell 1% in Wipro for ₹9,156 cr.

File photo of Azim Premji   | Photo Credit: G.R.N. SOMASHEKAR

Wipro promoter Azim Premji and promoter companies tendered 22,89,04,785 shares worth ₹9,156 crore during a buy-back programme, said the IT firm in a filing.

Azim Premji Trust tendered 19.87 crore shares, Hasham Traders tendered 1 crore shares and Azim Premji Philanthropic Initiatives tendered 51.82 lakh shares. Mr. Azim Hasham Premji Partner Representing Zash Traders and Mr Azim Hasham Premji Partner Representing Prazim Traders tendered 75 lakh shares each, as per the filing.

Post the buyback, the promoters hold 73.04% stake in the firm, a reduction of almost 1% from the 74% held earlier.

The balance 26.96% stake is held by foreign investors, financial institutions and others.

Wipro had announced a buy-back of up to 23.75 crore fully paid-up equity shares via tender process.

The information technology major said the shares were bought back at a price of ₹400 apiece.

The total amount utilised for the buy-back programme, held between December 29 and January 11, was ₹9,500 crore.

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Printable version | Feb 27, 2021 12:36:06 PM | https://www.thehindu.com/business/promoters-sell-1-in-wipro-for-9156-cr/article33612202.ece

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