Azim Premji Trust sells 2.73% stake in Wipro | business news | Hindustan Times
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Azim Premji Trust sells 2.73% stake in Wipro

According to Wipro’s regulatory filing, the Azim Premji Trust along with nine other promoter entities offloaded a little over 17.96 crore shares during the buyback.

business Updated: Dec 21, 2017 21:16 IST
The Wipro campus in Bengaluru. The company has bought back 34.37 lakh shares. (REUTERS)
The Wipro campus in Bengaluru. The company has bought back 34.37 lakh shares. (REUTERS)

IT major Wipro said on Thursday the Azim Premji Trust, along with other promoter entities, has sold its 2.73% stake for more than Rs 5,700 crore in the recently concluded buyback offer.

The Azim Premji Trust along with nine other promoter entities -- who were persons acting in concert (PAC) -- offloaded a little over 17.96 crore shares during the buyback that closed on December 13.

The price for the buyback offer was fixed at Rs 320 per share.

The Azim Premji Trust and PAC sold 17,96,69,656 shares at Rs 320 apiece, according to Wipro’s regulatory filing.

A total of 34.37 lakh shares were bought back under the offer with a total amount of Rs 11,000 crore being utilised.