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World Snap > Business > Azim Premji donates shares worth Rs 12,300 cr to charity

Azim Premji donates shares worth Rs 12,300 cr to charity

  • Get Latest News on : Azim Premji

    February 23, 2013 16:14:09 IST
    Last Updated : February 23, 2013 16:21:54 IST

    New Delhi  : Wipro Chairman Azim Premji has donated shares worth about Rs 12,300 crore in Wipro Ltd to a philanthropic trust he controls.


    A statement issued by the foundation said that the billionaire had transferred 295.5 million shares from his stake in Wipro to the trust that controls the Azim Premji Foundation, a not-for-profit organization working in the education sector in India.

    According to the Wall Street Journal, the shares represent 12 percent of the total outstanding shares of Wipro.

    Premji said in a statement that this trust ‘will utilize the endowment to fund various social, not-for-profit initiatives of the foundation, which are expected to scale significantly over the next few years’.

    File Photo : AFP

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    1 Comment

    • At 2013.02.24 23:07, Ashok Prabhu said:

      The entire Nation applauds him.

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      Author : , Section : Business, Featured, Top News, TAGS : Tagged as: Azim Premji

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