Premji, entities sell 22.46 cr shares
Azim Premji, founder of India’s thirdlargest IT services company Wipro, and his other group entities, sold about 22.46 crore shares worth over ₹7,300 crore during the Wipro buyback offer that closed last month. In a regulatory filing on Wednesday, Wipro said it had bought back 32.3 crore equity shares at ₹325 a share.
The total amount utilised under the buyback was ₹10,499.99 crore. Before the buyback, the promoter and group companies’ shareholding stood at 73.83 per cent; post buyback, this has risen to 74.04 per cent. p10