Premji family continue to hold voting rights on 34% of Wipro shares

Foundation to receive economic benefits of 67% stake

Unlike Tata Trusts where the trusts directly hold shares in Tata Sons, the family of Wipro Chairman Azim Premji will continue to hold voting rights on 34 per cent of shares, while the economic benefits of these shares will be transferred to the Azim Premji Foundation.

The voting rights with the promoter will ensure the interests of the promoter family, as well as minority shareholders, are protected in future, said corporate governance advocates and corporate lawyers.

When contacted, Azim Premji Foundation spokesperson said: “Premji has earmarked all economic benefits in an additional 34 per cent of the shares in Wipro