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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.
Based on Wipro's closing share price of Rs 484.9 on last Friday, the 1,023,180 shares gifted by Premji were valued at Rs 496 crore, , wipro, azim premji
On January 23, Azim Premji transferred over 51 lakh shares each to his sons, Rishad Premji, who is the chairman of Wipro, and Tariq Premji, serving as Wipro Enterprises non-executive director.
Azim Premji, 78, owned 22,58,08,537 shares, or 4.32%, in Wipro until last week. On 20 January, Premji gave 51,15,090 shares, each, to elder son Rishad, who is the chairman of Wipro, and to Tariq, who works at Azim Premji Foundation.
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