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Wipro completes ₹9,500-cr share buyback

Our Bureau Bengaluru | Updated on 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.

Wipro had announced a buyback of up to 23,75,00,000 full paid-up equity shares and the company adopted a tender offer route for the buyback. It said, 23.75 crore equity shares were bought back under the buyback at a price of ₹400 per equity share. The total amount utilised in the buyback is ₹9,500 crore.

Published on January 19, 2021

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