Premji completes transfer of 213 million Wipro shares to trust
Billionaire Wipro Chairman Azim Premji today completed the transfer of 213 million shares in the country's third largest software exporter to a philanthropic trust promoted by him.
The shares, which amount to an 8.7 per cent stake in the company, were transferred to the Azim Premji Trustee Company, Wipro said in a filing to the National Stock Exchange.
"An aggregate of 213,000,000 equity shares of Wipro, constituting 8.68 per cent of the paid-up share capital of the company, have been gifted by Napean Trading and Investment, Regal Investment and Trading and Vidya Investment and Trading to the Azim Premji Trustee, acting as a trustee of the Azim Premji Trust," Wipro said.
Premji had pledged to transfer shares worth Rs 8,846 crore in the company to his endowment trust for funding philanthropic activities.
While Regal Investment and Trading gifted 84.83 million equity shares (a 3.46 per cent stake) to the Trust, Vidya Investment and Trading gave 64.58 million shares (2.63 per cent).
Meanwhile, Napean Trading and Investment gifted 63.58 million equity shares (a 2.59 per cent stake) to the Azim Premji Trustee, according to the statement.
