Rishad sells 27.4% of his stake in Wipro

BANGALORE: Wipro chairman Azim Premji's son Rishad Premji has sold 27.4% of his holding in the company for a little over Rs 11 crore.

Rishad, who had joined Wipro in 2007 and who is now its chief strategy officer, held 9,46,666 shares, or 0.04% stake, in the company. He has sold 2,60,000 shares, which brings his stake down to 0.03%.

Rishad said in a notice to the stock exchanges that he had sold 2,44,982 shares on the NSE for Rs 10.39 crore and 15,018 shares on the BSE for Rs 63.57 lakh on June 15. TNNThe trading was done through Kotak Securities.

When contacted, Wipro declined to comment on the sale other than to say that it's Rishad's personal matter. Azim Premji holds close to 80% stake in the company. Wipro's share price on the BSE was Rs 409 at closing on Friday.

Wipro chairman Azim Premji's son Rishad Premji, who is also chief strategy officer (CSO) in the company, has sold 27.4%, amounting to 2.6 lakh shares, of his total holding in the company for little over Rs 11 crore.

Prior to this sale, Rishad held 9,46,666 shares, or 0.04% stake, in the company, Wipro said in a filing to the BSE.

Of the 2.6 lakh shares sold, 2,44,982 units valued at around Rs 10.39 crore were sold at the BSE and the rest at the NSE for Rs 63.57 lakh on June 15, the filing said. agencies

Rishad joined Wipro Technologies in 2007 in the Banking and Financial Services Vertical (BFSI) as business head for special projects. In last September he was elevated to the post of CSO.
When contacted, the company declined to comment on the reason for the sale of the shares. Shares of the company closed at Rs 409 apiece on BSE, down by 1.64 per cent over the previous close.
source-http://timesofindia.indiatimes.com/business/india-business/Rishad-sells-274-of-his-stake-in-Wipro/articleshow/8895139.cms

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