Azim Premji, founding chairman of Wipro, last week gifted a little over 10 million Wipro shares to his sons — Rishad A Premji and Tariq Premji. The gifted shares are valued at about Rs 500 crore. Post transaction, Premji now holds about 215.5 million of Wipro shares.
Both Rishad and Tariq received about 5.1 million shares each from their father, taking their holdings from 0.03% to 0.13% each. Premji’s holding after the transaction fell to 4.12% from 4.32%, as per BSE.
The senior Premji had 225.8 million shares in Q3 of FY24. After the gifting transaction, that fell to 215.5 million shares. A total of 10.23 million shares changed hands priced at about Rs 489 each.
Post the transaction that occurred on January 20, the Premji family members together own 4.43% shares in Wipro, including Premji’s wife Yasmeen’s holding of 0.05%. The promoter group together holds about 72.9% in Wipro.
Wipro, meanwhile, expects revenue from its IT services business segment in Q4 to be in the range of (-)1.5-0.5% in constant currency terms. For Q3, the company had earlier guided revenue to be in the range (-)3.5-(-)1.5% in constant currency terms. The IT major also recently declared an interim dividend of Rs 1 per equity share.
