Wipro Block Deal: Azim Premji’s Premji Invest buys major stake in Wipro - Check Details

Wipro Block Deal: On Friday, Premji Invest, the private equity firm owned by Indian business tycoon Azim Premji, bought a 1.6 per cent stake in Wipro , one of the leading information and technology companies in India, for Rs 4,757 crore through an open market transaction. 

The PE firm acquired shares of the company though it sarm Prazim Trading and Investment Company Private Limited though a block deal on the National Stock Exchange. 

According to the market data, Prazim Trading and Investment Company acquired 8,49,54,128 shares, amounting to a 1.62 per cent stake in the IT major. 

The shares were bought at an average price of Rs 560 apiece with the overall transaction value to Rs 4,757.43 crore.

Meanwhile, Azim Premji promoted Prazim Traders sold over 4.49 crore shares of Wipro, while Zash Traders sold 4 crore shares of Wipro at the same price.

Prazim and Zash Traders are the two promoter entities of Wipro. 

The shares of the company rose 0.92 per cent to end at Rs 568.60 apiece on the National Stock Exchange. 

(With PTI inputs)