Wipro Buyback: Azim Premji, Promoter Entities Sell Shares Worth Over Rs 7,300 Crore
Azim Premji, founder and former chairman of Wipro Ltd. (Photographer: Andrew Harrer/Bloomberg)

Wipro Buyback: Azim Premji, Promoter Entities Sell Shares Worth Over Rs 7,300 Crore

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Azim Premji and other promoter group entities sold 22.46 crore shares worth more than Rs 7,300 crore during Wipro Ltd.’s buyback offer that closed last month.

Wipro said it had bought back 32.3 crore equity shares under the buyback scheme at Rs 325 apiece, and the total amount utilised was about Rs 10,499.99 crore, according to an exchange filing.

Premji-linked entities—Zash Traders, Prazim Traders and Hasham Traders—sold 6.12 crore shares, 6.03 crore shares and 5.02 crore shares, respectively, during the Wipro buyback, it said.

About 4.05 crore shares from Azim Premji Trust and 1.22 crore shares from Azim Premji himself were also accepted during the Wipro buyback offer. More than 1.34 crore shares were sold by Life Insurance Corporation of India.

After the buyback, the promoter group holds 74.05 percent in Wipro.

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