Wipro founder Azim Premji transfers IT firm's shares worth Rs 483 cr to sons Rishad, Tariq
The transaction, however, would not alter the overall promoter and promoter group shareholding in the company and it will remain the same even after the proposed transaction
- Jan 25, 2024,
- Updated Jan 25, 2024 3:01 PM IST
Wipro Ltd founder Azim Premji has transferred 1.02 crore equity shares of Wipro held by him to his two sons --Rishad Premji and Tariq Premji — as 'gift', according to exchange filing.
The Wipro scrip is currently valued at Rs 472.9 per share, and at roughly this value, the transferred shares will amount to a whopping Rs 483 crore. Rishad Premji currently helms Wipro as its Executive Chairman, and is a prominent face of the Indian IT industry. On Thursday at 1450 hours, the firm's scrip on BSE was tradin 1.7% lower at Rs 469.8
"I, Azim H Premji, wish to intimate you that 1,02,30,180 equity shares of Wipro Limited held by me, amounting to 0.20% of the share capital of the company were transferred to Rishad Azim Premji and Tariq Azim Premji in the form of gift," Wipro said on Wednesday in a stock exchange filing.
The transaction, however, would not alter the overall promoter and promoter group shareholding in the company and it will remain the same even after the proposed transaction.
In another filing by Wipro, Rishad Premji informed that 51,15,090 equity shares of Wipro Ltd has been received as gift from Azim Premji.
A similar intimation was made for Tariq Premji, informing that he has also been gifted 51,15,090 equity shares of Wipro Ltd by Azim Premji.
With inputs from PTI
Wipro Ltd founder Azim Premji has transferred 1.02 crore equity shares of Wipro held by him to his two sons --Rishad Premji and Tariq Premji — as 'gift', according to exchange filing.
The Wipro scrip is currently valued at Rs 472.9 per share, and at roughly this value, the transferred shares will amount to a whopping Rs 483 crore. Rishad Premji currently helms Wipro as its Executive Chairman, and is a prominent face of the Indian IT industry. On Thursday at 1450 hours, the firm's scrip on BSE was tradin 1.7% lower at Rs 469.8
"I, Azim H Premji, wish to intimate you that 1,02,30,180 equity shares of Wipro Limited held by me, amounting to 0.20% of the share capital of the company were transferred to Rishad Azim Premji and Tariq Azim Premji in the form of gift," Wipro said on Wednesday in a stock exchange filing.
The transaction, however, would not alter the overall promoter and promoter group shareholding in the company and it will remain the same even after the proposed transaction.
In another filing by Wipro, Rishad Premji informed that 51,15,090 equity shares of Wipro Ltd has been received as gift from Azim Premji.
A similar intimation was made for Tariq Premji, informing that he has also been gifted 51,15,090 equity shares of Wipro Ltd by Azim Premji.
With inputs from PTI