Over 13.4 million Wipro shares were sold by LIC during the buyback process. (Mint)
Over 13.4 million Wipro shares were sold by LIC during the buyback process. (Mint)

Azim Premji, group entities offload 7,300 crore shares in buyback

  • Wipro says it had bought back 323 million equity shares under the buyback scheme
  • About 40.5 million shares from Azim Premji Trust and 12.2 million shares from Azim Premji were accepted under the buyback offer

NEW DELHI : Azim Premji and other promoter group entities sold about 224.6 million shares worth over 7,300 crore during the Wipro buyback offer that closed last month.

In a regulatory filing on Wednesday, Wipro said it had bought back 323 million equity shares under the buyback scheme at 325 apiece, and the total amount utilized was about 10,499.99 crore.

Approximately 6.12 crore shares from Azim Premji Partner representing Zash Traders, 60.3 million shares from Azim Premji Partner representing Prazim Traders and 50.2 million shares from Azim Premji Partner representing Hasham Traders were accepted under the buyback, it added.

About 40.5 million shares from Azim Premji Trust and 12.2 million shares from Azim Premji were also accepted under the buyback offer, the filing said.

Over 13.4 million shares were sold by Life Insurance Corporation of India during the process, it added.

After the buyback, the promoter group now holds a 74.05% stake in Wipro.

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