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Azim Premji buys stakes worth Rs 4757 crore in Rs 297000 crore company
The 79-year-old is also one of the richest people in India. According to Forbes, he has a real-time net worth of USD 12.3 billion.
Updated : Nov 10, 2024, 04:30 PM IST
 "Azim Premji buys stakes worth Rs 4757 crore in Rs 297000 crore company")
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Azim Premji is a well-known businessman in the tech world. He runs IT major Wipro, which is among India's largest software services providers. Now, the tech magnate has bought a 1.6 pc stake in Wipro for Rs 4,757 crore.
His private equity investment firm, Premji Invest, on Friday, bought a 1.6 per cent stake in Wipro for Rs 4,757 crore through an open market transaction. Premji's PE firm through its arm Prazim Trading and Investment Company Pvt Ltd acquired shares of Wipro through a block deal on the National Stock Exchange (NSE). The market cap of Wipro is Rs 2.97 lakh crore, as of November 8.
As per the data, Prazim Trading and Investment Company purchased 8,49,54,128 shares, amounting to a 1.62 per cent stake in Bengaluru-based Wipro. The shares were picked up at an average price of Rs 560 apiece, taking the transaction value to Rs 4,757.43 crore.
Meanwhile, Azim Premji promoted Prazim Traders sold over 4.49 crore shares of Wipro, while Zash Traders sold 4 crore shares of the company at the same price. Prazim and Zash Traders are the two promoter entities of Wipro. Shares of Wipro rose 0.92 per cent to close at Rs 568.60 apiece on the NSE.
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Premji is among the world's most generous billionaires. The 79-year-old is also one of the richest people in India. According to Forbes, he has a real-time net worth of USD 12.3 billion. He currently stands at the 190th spot on Forbes Billionaires' list.
(With inputs from PTI)
