Wipro buyback offer: Azim Premji, promoter group entities sold 22.46 cr shares worth Rs 7,300 cr

Azim Premji and other promoter group entities sold about 22.46 crore shares worth over Rs 7,300 crore during the Wipro buyback offer that closed last month

|Sep 11, 2019, 14:09:31 IST

New Delhi: Azim Premji and other promoter group entities sold about 22.46 crore shares worth over Rs 7,300 crore during the Wipro buyback offer that closed last month. In a regulatory filing on Wednesday, Wipro said it had bought back 32.3 crore equity shares under the buyback scheme at Rs 325 apiece, and the total amount utilised was about Rs 10,499.99 crore. [caption id="attachment_29971" align="alignleft" width="380"]

A file photo of Azim Premji. Reuters [/caption]Approximately 6.12 crore shares from Azim Premji Partner representing Zash Traders, 6.03 crore shares from Azim Premji Partner representing Prazim Traders and 5.02 crore shares from Azim Premji Partner representing Hasham Traders were accepted under the buyback, it added. About 4.05 crore shares from Azim Premji Trust and 1.22 crore shares from Azim Premji were also accepted under the buyback offer, the filing said. Over 1.34 crore shares were sold by Life Insurance Corporation of India during the process, it added. Post the buyback, the promoter group now holds 74.05 percent stake in Wipro.

India remains among fastest-growing major economies despite global uncertainty, says RBI Bulletin

RBI says industrial and services activity stayed resilient through June, while strong trade, stable external sector and improving foreign investment continue to support economic growth.

1 min read

Iran war could cut global growth by more than half: World Bank’s chief economist Indermit Gill

Prolonged US-Iran conflict could fuel inflation, push up borrowing costs and deepen debt distress across developing economies, says Indermit Gill

2 min read

Brent crude climbs to $94 as analysts expect oil prices to stay in $90–100 range

Rising US-Iran tensions and tight OPEC+ supply have pushed crude to a five-week high, but experts believe prices are unlikely to sustain a rally beyond $100 without a major supply disruption.

1 min read

UK inflation cools further to 2.6% in June as transport and food prices ease

Softer price growth in transport and food categories helps push headline inflation lower, while core inflation remains sticky.

1 min read

India's gem and jewellery exports jump 26.5% in June on stronger global demand

Lower gold prices, healthy overseas demand and rising exports of gold jewellery, diamonds and lab-grown diamonds drive sharp recovery in June

1 min read

Up Next

Wipro buyback offer: Azim Premji, promoter group entities sold 22.46 cr shares worth Rs 7,300 cr

Tags

India remains among fastest-growing major economies despite global uncertainty, says RBI Bulletin

Iran war could cut global growth by more than half: World Bank’s chief economist Indermit Gill

Brent crude climbs to $94 as analysts expect oil prices to stay in $90–100 range

UK inflation cools further to 2.6% in June as transport and food prices ease

India's gem and jewellery exports jump 26.5% in June on stronger global demand