Wipro promoter entities swap 1.72% stake worth Rs 4,675 crore

New Delhi, About 18.05 crore shares of Wipro, amounting to a 1.72 per cent stake, were exchanged among promoter group entities through open market transactions on Wednesday, according to the exchange data.

Following the share sale, Wipro shares appreciated by 1.61 per cent to close at Rs 258.95 apiece on the BSE. The stock settled 1.62 per cent higher at Rs 259 per piece on the National Stock Exchange (NSE).

According to the block deal data on the NSE, promoter entity Azim Premji Trust sold a total of 18.05 crore equity shares or 1.72 per cent stake in Bengaluru-based Wipro. The transaction valued at around Rs 4,674.77 crore, was executed at an average price of Rs 258.99 per share.

Meanwhile, Prazim Traders and Zash Trader (part of Wipro's promoter group) bought these shares at the same price.

On Monday, 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 while Premji Invest through its arms Prazim Trading and Investment Company, Hasham Traders and Prazim Traders bought these shares.

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.