Premji Invest Acquires 1.6% Stake in Wipro for ₹4,757 Crore via Block Deal

In a major move, Premji Invest, the private equity firm of billionaire Azim Premji, has acquired a 1.6% stake in Wipro, one of India’s leading IT companies, for a total of ₹4,757 crore. This acquisition was carried out through an open market transaction via a block deal on the National Stock Exchange (NSE), as per regulatory filings. The stake, which amounts to approximately 8.5 crore shares, was purchased at an average price of ₹560 per share, significantly enhancing Premji's influence over the IT giant.

The acquisition was executed by Prazim Trading and Investment Company Pvt Ltd, an entity associated with Premji Invest, signalling the billionaire’s continued confidence in Wipro’s long-term potential. The move comes at a time when Wipro is exploring avenues for growth, with the company witnessing positive momentum in its stock price, which saw a rise of 0.92% to ₹568.60 per share following the transaction.

This strategic purchase is part of Premji Invest’s ongoing strategy to strengthen its position in prominent Indian companies. The deal also highlights the firm’s close involvement in Wipro, with several other entities associated with Azim Premji, including Tariq Azim Premji, Rishad Azim Premji, and Azim Premji Trust, also participating in the acquisition.

Interestingly, the deal comes shortly after two other promoter entities of Wipro, Prazim Traders and Zash Traders, sold a total of 8.49 crore shares of the company. Prazim and Zash are also key stakeholders in Wipro, underscoring the prominent role Premji’s firms play in the company’s strategic movements. Despite the sell-off, the overall sentiment around the acquisition remained positive, with shares of Wipro trading higher after the block deal was concluded.

Azim Premji, known for his philanthropic efforts and business acumen, has long been a key player in India’s IT sector, and his continued investments in Wipro reflect his confidence in the company’s ability to navigate challenges and capture growth in an increasingly competitive global market. As Wipro works to expand its offerings and diversify its portfolio, Premji’s investment provides a signal of strong backing for the company as it navigates the evolving tech landscape.

This deal follows a series of strategic moves in the Indian stock market, as high-profile investors like Premji look to capitalize on growth in the IT sector, which continues to see substantial demand. With a 1.6% stake in Wipro, Premji Invest has further solidified its role as a major stakeholder in one of India’s most significant IT firms.

Wipro, which has been undergoing restructuring and transforming its operations, is expected to benefit from continued investor confidence, as seen in this latest move. The company’s ability to maintain steady growth amidst sectoral challenges positions it as a prime candidate for continued investment from key players like Azim Premji, who has long been committed to seeing the company flourish.

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The latest developments in Wipro’s stock movements also hint at a potential surge in investor interest, particularly from those looking to tap into the robust demand for IT services in both India and abroad. As the company prepares for its next phase of growth, the backing from Premji Invest is likely to play a crucial role in shaping its future trajectory.

[Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own research or consult a professional advisor before making financial decisions.]