Azim Premji Transfers 295.5 million equity shares to His Not-For-Profit Foundation

Chairman of Azim Premji Foundation, Azim Premji, announced that he has transferred 295.5 million equity shares representing 12% of the total shares of Wipro Ltd, held by certain entities controlled by him, to an irrevocable trust. With this transferred amount the trust's shareholding in Wipro will go up to about 19.93%.

Azim Premji foundation is a not for profit organization set up in the year 2001. The goal of the organization is to create and sustain initiatives to contribute to a just, equitable, humane and sustainable society.

The foundation has worked in partnership with various state governments, largely in rural India, to help contribute to the improvement of quality and equity of school education.

Currently the foundation's work is spread across Karnataka, Uttarakhand, Rajasthan, Chhattisgarh, Pondicherry, Andhra Pradesh, Bihar and Madhya Pradesh.

Premji was amongst the billionaires around the world to commit half of their wealth to philanthropy, the “Giving Pledge” campaign recently announced.

The campaign is led by billionaires’ warren Buffett, Bill Gates and others. The campaign is a commitment by the world’s wealthiest individuals and families to dedicate the major portion of their wealth to philanthropy.