Azim Premji Trust sells 20.2 crore shares worth Rs 5057 crore

BENGALURU: Azim Premji Trust sold 20.23 crore shares worth Rs 5,057 crore in a block deal on Monday, NSE data showed. The block deal averaged Rs 250 per share, with Azim Premji Trust selling shares to Hasham Traders, Prazim Traders, and Prazim Trading and Investment Company. These shares, equal to a 1.9% stake, were transferred between promoter group entities via open market transactions on Monday, as per exchange data. Wipro shares closed up 1% at Rs 251.3 on the BSE and 1.2% higher at Rs 251.7 on the NSE.

Prazim Traders acquired 5.9 crore shares, while Hasham Traders purchased 11.9 crore shares, and Prazim Trading and Investment Company secured 2.38 crore shares, each priced at Rs 250. During November last year, Prazim Trading and Investment Company, affiliated with Premji Invest, acquired 8.4 crore Wipro shares, representing a 1.6% stake, valued at Rs 4,757 crore, while Prazim and Zash Traders divested an identical quantity of shares.

In the recent earnings, Wipro's muted performance was amplified due to ongoing market uncertainties as customers adopted a cautious approach despite a pent-up demand for transformation projects. Wipro revenue declined for the second consecutive year to 2.3% in constant currency in the 2024-25 financial year compared to a sharper drop of 4.4% in the year-ago period. In the March quarter, Wipro’s revenue dropped 1.2% in constant currency compared to the same period last year. Sequentially, its revenue dipped 0.8%.