Wipro stake reshuffle: Azim Premji Trust offloads 1.72% for Rs 4,675 crore; promoter entities Prazim and Zash step in as buyers

In a major inside reshuffle, Wipro’s promoter entities executed a stake swap involving 18.05 crore shares, amounting to 1.72% of the corporate’s fairness, by way of block offers on Wednesday. The transaction, valued at roughly Rs 4,674.77 crore, was carried out at a mean worth of Rs 258.99 per share.According to inventory change information, the Azim Premji Trust—the philanthropic funding arm of Wipro’s founder—offered the shares on the National Stock Exchange (NSE), whereas different promoter group entities, Prazim Traders and Zash Trader, bought the precise amount on the similar worth, PTI reported.Following the transaction, Wipro’s shares gained floor, closing 1.62% increased at Rs 259 apiece on the NSE and up 1.61% at Rs 258.95 on the BSE.This is the second such promoter-level stake adjustment in the week. On Monday, Azim Premji Trust had offered 20.23 crore fairness shares, or 1.93% of Wipro, in a transaction value Rs 5,057 crore. Those shares had been acquired by different arms of Premji Invest—specifically Prazim Trading and Investment Company, Hasham Traders, and Prazim Traders.Such stake rotations have turn out to be a well-recognized technique amongst Wipro’s promoter entities. In November final 12 months, the same Rs 4,757 crore transaction occurred the place Premji Invest, by way of Prazim Trading and Investment Company, purchased 8.49 crore shares—an equal of 1.6% stake—whereas Prazim and Zash Traders offloaded an equal quantity.These inside transactions sometimes mirror portfolio realignments or capital allocation changes inside the Azim Premji Trust and Premji Invest ecosystem, and don’t have an effect on the general promoter shareholding in Wipro.