Premji transfers Rs 12,300 cr Wipro stock to trust
- Congress fields local MLA Ajay Rai from Varanasi to take on Modi, Kejriwal
- Kejriwal slapped again, second attack in last four days
- Mamata Banerjee relents; agrees to EC directive on transfer of officers
- Bihar: BJP attacks Nitish over CRPF officer's death, calls for probe
- Elections 2014 LIVE: Mamata Banerjee seeks removal of Vinod Zutshi from Election Commission
Wipro chairman Azim Premji on Friday said that he has transferred 295.5 million equity shares, representing 12 per cent of the total shares of the company, held by certain entities controlled by him, to an irrevocable trust.
With this transfer, valued at Rs 12,300 crore, the trust's shareholding in Wipro will go up to 19.93 per cent.
The trust will utilise the endowment to fund various social, not-for-profit initiatives of the Azim Premji Foundation, which are expected to scale significantly over the next few years, Wipro said. The foundation started in 2001, works with the aim of collaborating with various state governments to improve the public schooling system.
- 4-yr-old sexually assaulted by school bus attendant
- 65 lakh voters register in Pune district
- Candidates declare assets, Ayali has property worth Rs 16.86 cr
- Chaos at DC office as heavyweights file papers
- Culex vishnui mosquito is now breeding in city, finds PGI survey
- Over 6 lakh registered voters in city