New Delhi: Wipro chief Azim Premji is one of the leading donors in the country and the world. His philanthropic institutions have garnered over Rs 18,000 crore through dividends and buybacks in the last five years. It has registered a significant increase since 2019. In fact, in 2019, Azim Premji had said that 67 percent stake in Wipro would be donated. Please tell that Azim Premji has 73% stake in Wipro directly and indirectly.
The two philanthropic institutions of Wipro flagship Premji, the Azim Premji Trust and the Azim Premji Philanthropic Initiative, have been classified as part of the promoter group. They hold 10.2 per cent and 0.27 per cent stake in the company, respectively. They have got 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 years ending 2017, 2018, 2020 and 2021, these institutions have received buybacks of Rs. 1964 crores, Rs 5894 crores, Rs 1318 crores and Rs 8156 crores.
Of the buybacks worth Rs 9500 crore in 2020, about 86% came in the accounts of these two charitable institutions. Earlier in August 2019, he had received about 13 per cent of the buyback of Rs 10,500 crore. It is not yet clear whether he will get the benefit of shares sold by other companies controlled by Azim Premji.