Wipro Chief Azim Premji Gifts Shares Worth Rs 500 Crore To Sons Rishad And Tariq
IT giant Wipro¡¯s founder chairman Azim Premji has gifted over one crore shares to his two sons - Rishad and Tariq. The shares are said to be worth Rs 500 crore.?Wipro chairman Rishad Premji and Wipro Enterprises non-executive director Tariq Premji have been given 51 lakh shares each.
The total shares gifted accounts for 0.2 percent of the equity. Post the transfer, Azim Premji now owns 4.3 percent of the company while his sons own 0.03 percent each.?
The value of one Wipro share stands at Rs 472.9 and the transferred shares will roughly amount to a whopping Rs 483 crore.?
¡°I, Azim H Premji, wish to intimate you that 1,02,30,180 equity shares of Wipro Limited held by me, amounting to 0.20 per cent of the share capital of the company were transferred to Rishad Azim Premji and Tariq Azim Premji in the form of gift,¡± Wipro filing on Wednesday said.
The transaction, however, would not alter the overall promoter and promoter group shareholding in the company and it will remain the same even after the proposed transaction.
In another filing by Wipro, Rishad Premji informed that 51,15,090 equity shares of Wipro Ltd has been received as a gift from Azim Premji.
A similar intimation was made for Tariq Premji, informing that he has also been gifted 51,15,090 equity shares of Wipro Ltd by Azim Premji.
(With PTI inputs)
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