Premji gifts 1 cr equity shares to his 2 sons

New Delhi: Wipro founder Azim Premji has transferred 1.02 crore equity shares of Wipro held by him to his two sons --Rishad Premji and Tariq Premji-- as ‘gift’, according to exchange filing.

The Wipro scrip is currently valued at Rs472.9 per share, and at roughly this value, the transferred shares will amount to a whopping Rs483 crore. Tech magnate Azim Premji’s son Rishad Premji currently helms Wipro as its Executive Chairman, and is a prominent face of the IT industry.

“I, Azim H Premji, wish to intimate you that 1,02,30,180 equity shares of Wipro Ltd held by me, amounting to 0.20 per cent of the share capital of the company were transferred to Rishad Azim Premji and Tariq Azim Premji in the form of gift,” Wipro filing on Wednesday said.