News: Azim Premji shifts more Wipro stake to trust

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Azim Premji shifts more Wipro stake to trust

Wipro Ltd’s chairman Azim Premji, who is India’s top giver, has given away an additional 18% of his stake in India’s third largest IT services company to his foundation. The billionaire founder’s latest share transfer will bring an additional Rs.530 crore into the Azim Premji Foundation’s corpus this year by way of dividends and help expand its reach. The Economic Times reported this on Tuesday. “Over these years, I have irrevocably transferred a significant part of the shareholding in Wipro, amounting to 39% of the shares of Wipro, to a trust,” said Premji in a letter to the shareholders.
Wipro Ltd’s chairman Azim Premji, who is India’s top giver, has given away an additional 18% of his stake in India’s third largest IT services company to his foundation. The billionaire founder’s latest share transfer will bring an additional Rs.530 crore into the Azim Premji Foundation’s corpus this year by way of dividends and help expand its reach. The Economic Times reported this on Tuesday. “Over these years, I have irrevocably transferred a significant part of the shareholding in Wipro, amounting to 39% of the shares of Wipro, to a trust,” said Premji in a letter to the shareholders.
 
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Topics: Others, #Corporate

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