Azim Premji trusts may get â¹5,000cr from Wipro share buyback
Billionaire Azim Premji's two philanthropic arms, Azim Premji Philanthropic Initiatives and Azim Premji Trust, could receive at least â¹5,000 crore from Wipro's proposed â¹11,000 crore share buyback. Both the trusts have sought additional approval from market regulator SEBI to sell more shares than other promoters back to Wipro. Notably, Premji and family, and the two units, hold 73.18% of Wipro.