Azim Premji Trust sells 2.73% stake in Wipro as buyback offer

Azim Premji Trust along with nine other promoter entities offloaded a little over 17.96 crore shares during the buyback that closed on Dec 13

IT major Wipro on Thursday said Azim Premji Trust, along with other promoter entities, has sold its 2.73 per cent stake for more than Rs 5,700 crore in the recently concluded buyback offer.

Azim Premji Trust along with nine other promoter entities -- who were persons acting in concert (PAC) -- offloaded a little over 17.96 crore shares during the buyback that closed on December 13.

The price for the buyback offer was fixed at Rs 320 per share.

Azim Premji Trust and PAC sold 17,96,69,656 shares at Rs 320 apiece, according to Wipro's regulatory filing.

A total of 34.37 lakh shares were brought back under the buyback offer with a total amount of Rs 11,000 crore being utilised.