In a significant move, Premji Invest, the private equity arm of billionaire Azim Premji, acquired a 1.6% stake in Bengaluru-based IT giant Wipro for Rs 4,757 crore on Friday.
The shares, totaling 8.49 crore, were bought by Prazim Trading and Investment Company Pvt Ltd, an affiliate of Premji Invest, through a block deal on the National Stock Exchange (NSE). Each share was acquired at an average price of Rs 560. Alongside this purchase, Prazim Traders and Zash Traders, promoted by Azim Premji, sold over 8.49 crore shares, maintaining the Premji family’s substantial hold in Wipro.