28, February, 2024
HomeBusinessAzim Premji's Generosity: Gifts 1 Crore Wipro Shares Worth Over Rs 480 Crore to Sons

Azim Premji’s Generosity: Gifts 1 Crore Wipro Shares Worth Over Rs 480 Crore to Sons

Published on

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.

Read Also | Wipro to Implement Merit Salary Increases Amidst Challenging Global Market Conditions

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.

Read Also | Nifty IT Surges to Record High – TCS, Wipro, Infosys Drive Growth Explained

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.

Latest articles

Exclusive Discounts – Maruti Unveils Massive Savings on MY2023 Vitara, Fronx Models

Maruti Suzuki dealerships are currently rolling out irresistible discounts, exceeding Rs. 1 lakh, on...

Mahindra Set to Unveil 5-Door Thar SUV with Enhanced Features in Q2 FY2025

Mahindra, a prominent player in the Indian automotive market, is set to introduce the...

Renault Scenic E-Tech EV Earns Coveted Car of the Year 2024 Award

Renault's Scenic E-Tech electric SUV has secured the prestigious title of Car of the...

More like this

Expedia Announces 1,500 Jobs Layout Amid Shifting Travel Landscape

Expedia Group is set to trim its global workforce by 9%, amounting to approximately...

Bitcoin Surges Beyond $55,000: Cryptocurrency Market Update and Trends

Bitcoin has experienced an 8.14% surge in the last 24 hours, reaching $55,708.64, marking...

Paytm Shares Surge 5% Amid Leadership Changes: Unraveling the Rally

Paytm's stock witnessed a 5% surge today, spurred by the recent resignation of its...
Enable Notifications OK