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

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