The Azim Premji Trust offloaded 20.23 crore Wipro shares for Rs 5,058 crore on Monday — amounting to a 1.93% stake. The shares were sold at an average price of Rs 250 each and exchanged among promoter group entities through open market transactions. The stock rose by 1.26% during the day to close at Rs 251.72 on the National Stock Exchange.
According to block deal data available with the NSE, the promoter offloaded 20.23 crore equity shares that were subsequently purchased by group entities. The transaction was valued at around Rs 5,057 crore and executed at an average price of Rs 250 per share. Official data indicated that Premji Invest through its arm Prazim Trading and Investment Company Pvt Ltd, Hasham Traders and Prazim Traders bought these shares at the same price. All three are part of the Wipro promoter group.
Earlier in November 2024, Premji Invest had purchased 8.49 crore shares or 1.6% stake in Wipro for Rs 4,757 crore through Prazim Trading and Investment Company. Meanwhile, Prazim and Zash Traders had offloaded an equal number of shares in the IT company.
The IT giant had reported a 25.9% rise in net profit to Rs 3,569.6 crore while revenue rose 1.3% to Rs 22,504.2 crore during the final quarter of FY25. Wipro saw profits rise 18.9% to Rs 13,135.4 crore for the full FY25, and revenues for the full fiscal year tanked 0.74% to reach Rs 89,088.4 crore. The company had also cautioned in late May that escalations in tariffs and trade policies of “certain countries with large economies”, and changes in US immigration laws may negatively hit its revenues and business.
(With inputs from agencies)