Azim Premji Trust sold 2.73% stake in Wipro in share buyback offer
New Delhi: IT firm Wipro Ltd on Thursday said Azim Premji Trust, along with other promoter entities, has sold its 2.73% stake for more than Rs5,700 crore in the recently concluded share buyback offer.
The Azim Premji Trust along with nine other promoter entities, who were persons acting in concert (PAC), offloaded a little over 179.6 million shares during the share buyback that closed on 13 December. The share price for the buyback offer was fixed at Rs320 per share.
Azim Premji Trust and PAC sold 179,669,656 shares at Rs320 apiece, according to Wipro’s regulatory filing. A total of 3.437 million shares were brought back under the buyback offer with a total amount of Rs11,000 crore being utilized.