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Wipro promoter Azim Premji and promoter companies tendered 22,89,04,785 shares worth ₹9,156 crore during a buy-back programme, said the IT firm in a filing. Azim Premji Trust tendered 19.87 crore shar
January 19, 2021
Azim Premji, promoter firms sell over 22 cr shares, shed 1% ownership in Wipro
Wipro promoter Azim Premji and promoter companies tendered 22,89,04,785 shares worth ₹9,156 crore during share buyback process held between December 29, 2020 and January 11, 2021, said Wipro Ltd in a regulatory filing on Tuesday.
Azim Premji Trust tendered 19.87 crore shares, Hasham Traders tendered 1 crore shares and Azim Premji Philanthropic Initiatives tendered 51.82 lakh shares. Azim Hasham Premji, Partner, representing Zash Traders and Azim Hasham Premji, Partner, representing Prazim Traders tendered 75 lakh shares each, as per the filing.
Post the buyback, the promoters now hold 73.04 per cent stake in the company, almost 1 per cent down from the earlier 74 per cent, while the remaining 26.96 per cent stake is being held by foreign investors, financial institutions and others.
Tube Investments of India (TII), part of Rs 38,000 crore Murugappa Group, has said it has received Rs 350 crore from various investors including Azim Premji Trust, SBI Focused Equity Fund and SBI Magnum mid-cap fund, which have participated in the company s preferential issue. The money will be utilised to fund TII s organic and inorganic growth plans, including acquisition of CG Power and Industrial Solutions and proposed capex. At the company s EGM on December 21, TII s shareholders approved the proposed issue and allotment of equity shares to the Subscribers, by means of a special resolution passed with requisite majority. In an announcement today, TII said that in receipt of an aggregate amount of around Rs 350 crore received from the Subscribers towards subscription to the Equity Shares, on the basis of which allotment of the 4,783,380 equity shares was made today.