New Delhi: Wipro Chief Azim Premji is one of the leading donors of the country and the world. Their philanthropic institutions have received more than Rs.18,000 crores through dividends and buybacks in the last five years. This has registered a higher increase since 2019. In fact, in 2019, Azim Premji said that 67 percent share in Wipro would be donated. Tell us that Azim Premji has a direct and indirect stake of 73% in Wipro.
Tell us that two philanthropic institutions of Wipro head Premji, Azim Premji Trust, and Azim Premji Philanthropic Initiative have been classified as part of the Promoter Group. They have a 10.2 percent and 0.27 percent stake in the company respectively. They have got a good dividend in the last few years. Wipro has repurchased shares 4 times in the last 5 years, which has generated huge revenue for these institutions. In the financial year ended 2017, 2018, 2020, and 2021, these institutions have received buybacks of Rs. 1964 crore, Rs 5894 crore, Rs 1318 crore, and Rs 8156 crore respectively.
Out of a buyback of Rs.9500 crore in 2020, about 86% has come into the accounts of these two philanthropic institutions. Earlier in August 2019, he received about 13 percent of the Rs 10,500 crores buyback. It is not yet clear whether they will get the benefit of shares sold by other companies controlled by Azim Premji.