Azim Premji gifts 1 crore equity shares of Wipro worth over ₹480 crore to his sons
The Hindu
Wipro founder Azim Premji transfers 1.02 crore equity shares worth Rs 483 crore to his sons as a gift.
Wipro 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 ₹472.9 per share, and at roughly this value, the transferred shares will amount to a whopping ₹483 crore. Tech magnate Azim Premji's son Rishad Premji currently helms Wipro as its Executive Chairman, and is a prominent face of the IT industry.
"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 filing on Wednesday said.
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.
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