Wipro stake reshuffle: Azim Premji Trust offloads 1.72% for Rs 4,675 crore; promoter entities Prazim and Zash step in as buyers – OXBIG NEWS NETWORK-OxBig News Network

In a significant internal reshuffle, Wipro’s promoter entities executed a stake swap involving 18.05 crore shares, amounting to 1.72% of the company’s equity, through block deals on Wednesday. The transaction, valued at approximately Rs 4,674.77 crore, was carried out at an average price of Rs 258.99 per share.According to stock exchange data, the Azim Premji Trust—the philanthropic investment arm of Wipro’s founder—sold the shares on the National Stock Exchange (NSE), while other promoter group entities, Prazim Traders and Zash Trader, purchased the exact quantity at the same price, PTI reported.Following the transaction, Wipro’s shares gained ground, closing 1.62% higher at Rs 259 apiece on the NSE and up 1.61% at Rs 258.95 on the BSE.This is the second such promoter-level stake adjustment in the week. On Monday, Azim Premji Trust had sold 20.23 crore equity shares, or 1.93% of Wipro, in a transaction worth Rs 5,057 crore. Those shares were acquired by other arms of Premji Invest—namely Prazim Trading and Investment Company, Hasham Traders, and Prazim Traders.Such stake rotations have become a familiar strategy among Wipro’s promoter entities. In November last year, a similar Rs 4,757 crore transaction took place where Premji Invest, through Prazim Trading and Investment Company, bought 8.49 crore shares—an equivalent of 1.6% stake—while Prazim and Zash Traders offloaded an equal number.These internal transactions typically reflect portfolio realignments or capital allocation adjustments within the Azim Premji Trust and Premji Invest ecosystem, and do not affect the overall promoter shareholding in Wipro.