Wipro CFO sells more than half of his company shares

Executive director and chief financial officer of Wipro Suresh C Senapaty has sold 85,000 shares of the company for a realisation value of Rs 3.6 crore on February 1, the company said in a filing to the BSE. This is more than half of the shares he holds. This leaves him with 53,083 shares, which is 0.0022 per cent of the company.

Senapaty could not be reached for comments.

Senior executives selling their stakes is not unusual. Wipro Chairman Azim Premji had donated 8.6 per cent of his stake in the company worth Rs 8846 crore to his charity foundation. Similarly founder-chairman of HCL Shiv Nadar raised Rs 585 crore by selling 2.5 per cent stake in HCL Technologies last year, while Tech Mahindra Vice-Chairman Vineet Nayyar donated 350,000 shares worth Rs 31.78 crore to Essel Social Welfare Foundation, a non-governmental organisation run by his wife Reva Nayyar.

Former CEO of Tech Mahindra Sanjay Kalra had sold 4.8 lakh shares last March or nearly 78.56 per cent of his holding in the company, fetching him about Rs 44 crore in six separate transactions spread over three days.