In a recent exchange filing, Wipro founder Azim Premji has transferred 1.02 crore equity shares of Wipro to his sons, Rishad Premji and Tariq Premji, as a ‘gift.’ The current value of Wipro’s scrip stands at ₹472.9 per share, and based on this valuation, the transferred shares amount to an impressive ₹483 crore. Rishad Premji, currently serving as the Executive Chairman of Wipro, is a prominent figure in the IT industry.
Azim Premji’s filing 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% of the share capital of the company were transferred to Rishad Azim Premji and Tariq Azim Premji in the form of a gift.”
Despite the substantial transfer, the overall promoter and promoter group shareholding in Wipro will remain unchanged. In additional filings, Rishad Premji and Tariq Premji confirmed the receipt of 51,15,090 equity shares each as a gift from Azim Premji.
