Azim Premji, promoter entities sell 22.46 crore shares worth Rs 7,300 crore during Wipro buyback

The company had bought back 32.3 crore equity shares under the buyback scheme at Rs 325 a piece, and the total amount utilised was about Rs 10,499.99 crore.

Published: 11th September 2019 02:39 PM  |   Last Updated: 11th September 2019 02:39 PM   |  A+A-

Wipro Chairman Azim Premji

Wipro Chairman Azim Premji (File Photo | PTI)

By PTI

NEW DELHI: Azim Premji and other promoter group entities sold about 22.46 crore shares worth over Rs 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 under the buyback scheme at Rs 325 a piece, and the total amount utilised was about Rs 10,499.99 crore.

Approximately 6.12 crore shares from Azim Premji Partner representing Zash Traders, 6.03 crore shares from Azim Premji Partner representing Prazim Traders and 5.02 crore shares from Azim Premji Partner representing Hasham Traders were accepted under the buyback, it added.

"About 4.05 crore shares from Azim Premji Trust and 1.22 crore shares from Azim Premji were also accepted under the buyback offer," the filing said. It also added that over 1.34 crore shares were sold by Life Insurance Corporation of India during the process. Post the buyback, the promoter group now holds 74.05 per cent stake in Wipro.

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