Azim Premji gifts Rs 480 crore worth of Wipro shares to his sons Rishad, Tariq

Azim Premji gifts Wipro shares: Azim Premji, the founder of Wipro, has gifted 1.02 crore equity shares of Wipro to his two sons, Rishad Premji and Tariq Premji, according to an official exchange filing.

At the current valuation of Rs 472.9 per share, the transferred shares hold an impressive worth of approximately Rs 483 crore. Rishad Premji, who currently serves as the Executive Chairman of Wipro, is a well-known figure in the IT industry and continues to lead the company with distinction.

Azim Premji, in a filing on Wednesday, stated, "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 a gift."

This transaction will not result in any change in the overall promoter and promoter group shareholding in Wipro. The shareholding structure will remain unaltered even after the completion of this generous gift.

In a separate filing by Wipro, Rishad Premji confirmed the receipt of 51,15,090 equity shares of Wipro Ltd as a gift from Azim Premji. A similar intimation was made for Tariq Premji, who also received 51,15,090 equity shares of Wipro Ltd as a gift from his father, Azim Premji.

(With PTI inputs.)