Billionaire businessman Azim Premji gifted 1 crore shares worth Rs 500 crore to his sons, Rishad and Tariq. Rishad is currently the chairman of Wipro, while Tariq is the vice president of Azim Premji Endowment Fund. With this transaction, Azim Premji now owns 4.12% of Wipro.
Azim Premji gifts 1 crore equity shares of Wipro worth over ₹480 crore to his sons thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
The Wipro scrip is currently valued at Rs 472.9 per share, and at roughly this value, the transferred shares will amount to a whopping Rs 483 crore. Tech magnate Azim Premji's son Rishad Premji currently helms Wipro as its Executive Chairman, and is a prominent face of the IT industry.