In a generous gesture, Azim Premji, the visionary founder of Wipro, has conveyed his goodwill by transferring 1.02 crore equity shares of Wipro to his sons, Rishad Premji and Tariq Premji, as a significant gift.
The current market value of the Wipro scrip stands at Rs 472.9 per share, making the total worth of the transferred shares an impressive Rs 483 crore.
The official filing by Wipro on Wednesday stated, “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 per cent of the share capital of the company were transferred to Rishad Azim Premji and Tariq Azim Premji in the form of a gift.”
Rishad Premji, the son of Azim Premji, currently holds the position of Executive Chairman at Wipro and is a prominent figure in the IT industry. Despite this substantial transfer of shares, the overall promoter and promoter group shareholding in the company will remain unchanged.
In a parallel filing by Wipro, Rishad Premji officially acknowledged the receipt of 51,15,090 equity shares of Wipro Ltd as a gift from his father, Azim Premji. Additionally, a similar intimation was made for Tariq Premji, who also received 51,15,090 equity shares of Wipro Ltd as a generous gift from Azim Premji.
This noteworthy act of benevolence by Azim Premji not only reflects his commitment to his family but also underscores the values of generosity and legacy within the Wipro lineage.