Wipro Stake Reshuffle: Azim Premji Trust discharges 1.72% for RS 4,675 Crore; Promoter’s entities Prazim and Zash step as buyers – Times of India

In a significant internal rescheduling, Wipro’s promotes carried out a ring wap with 18.05 crore shares, amounting to 1.72% of equity, via block offers on Wednesday. The transaction, with a value of approximately RS 4,674.77 Crore, was performed at an average price of RS 258.99 per share.AThe Azim Premji Trust – the philanthropic investment arm of the founder of Wipro – has the shares on the National Stock Exchange (NSE), while other promotional group entities, Prazim traders and Zash Trader bought the exact quantity at the same price, reported the shares of the founder of Wipro – de Philan.After the transaction, the shares of Wipro won terrain and close 1.62% higher on RS 259 ​​each on the NSE and an increase of 1.61% on RS 258.95 on the BSE.This is the second such adjustment at the promoter level during the week. Azim Premji Trust had sold 20.23 Crore shares on Monday, or 1.93% of Wipro, in a transaction worth RS 5,057 Crore. Those shares were taken over by other weapons from Premji Invest – Namantal Prazim Trading and Investment Company, Hashham Traders and Prazim Traders.Such ring rotations have become a well -known strategy among the promotes of Wipro. In November last year, a similar RS 4,757 Crore transaction took place where Premji Invest, via Prazim Trading and Investment Company, bought 8.49 crore shares -an equivalent of 1.6% interest -while Prazim and Zash traders unload an equal number.These internal transactions generally reflect the redesignments of the portfolio or adjustments to capital allocation within the Azim Premji Trust and Premji Invest Ecosystem and have no influence on the general promoter share in Wipro.