Wipro Promoter Entities Swap 1.72% Stake For Rs 4,675 Crore

Wipro Ltd.'s shares were exchanged among promoter group entities through open market transactions, affecting its ownership structure.

After the transaction, the stock of the company surged, closing higher on both the BSE and the National Stock Exchange.

Block deal data from the NSE indicates that promoter entity Azim Premji Trust divested a portion of its equity stake in Wipro. The sale, executed at an average price of Rs 258.99 per share, amounted to a significant transaction value.

Meanwhile, Prazim Traders and Zash Trader (part of Wipro's promoter group) bought these shares at the same price.

On Monday, Azim Premji Trust offloaded 20.23 crore equity shares or 1.93% stake in Wipro. The transaction, valued at around Rs 5,057 crore while Premji Invest through its arms Prazim Trading and Investment Co., Hasham Traders and Prazim Traders bought these shares.

In November last year, Premji Invest through Prazim Trading and Investment Co. purchased 8.49 crore shares or 1.6% stake in Wipro for Rs 4,757 crore, while Prazim and Zash Traders offloaded an equal number of shares in the IT company.

(With PTI Inputs)