Azim Premji is the founder of the Azim Premji Trust who established the Azim Premji Endowment Fund in 2001.

Wipro’s promoter entity Azim Premji Trust sold 20.23 crore shares worth Rs 5,057 crore in the company via a block deal. They were equating to a 1.93% stake, and were traded among promoter group entities via open market transactions on Monday, as per exchange data. The buyers were Hasham Traders and Prazim Traders who bought 11.90 crore shares and 5.95 crore shares in the company, respectively.

On the same day, Wipro’s stock gained 1.09% to close at Rs 251.30 on the BSE, while it ended 1.26% higher at Rs 251.72 on the NSE.

According to the block deal data available with the NSE, promoter entity Azim Premji Trust offloaded 20.23 crore equity shares or 1.93 per cent stake in Wipro. The transaction, valued at around Rs 5,057 crore, was executed at an average price of Rs 250 per share.

Meanwhile, Premji Invest through its arm Prazim Trading and Investment Company Pvt Ltd, Hasham Traders and Prazim Traders bought these shares at the same price.

Prazim, Zash and Hasham Traders are part of Wipro’s promoter group.

In November last year, Premji Invest through Prazim Trading and Investment Company purchased 8.49 crore shares or 1.6 per cent stake in Wipro for Rs 4,757 crore, while Prazim and Zash Traders offloaded an equal number of shares in the IT company.

Azim Premji Trust supports the Azim Premji Foundation’s work in India, particularly in education. Azim Premji is also the founder and former chairman of Wipro, a global IT services company. He is still a non-executive member of the board and founder chairman of Wipro.

(With Inputs From PTI)