Premji Invest buys 1.6% stake in Wipro for Rs 4,757 crore via block deal

Private equity firm Premji Invest on Friday bought a 1.6 per cent stake in IT company Wipro for Rs 4,757 crore through an open market transaction.

Billionaire Azim Premji's PE firm through its arm Prazim Trading and Investment Company Pvt Ltd acquired shares of Wipro through a block deal on the National Stock Exchange (NSE).

As per the data, Prazim Trading and Investment Company purchased 8,49,54,128 shares, amounting to a 1.62 per cent stake in Bengaluru-based Wipro.

The shares were picked up at an average price of Rs 560 apiece, taking the transaction value to Rs 4,757.43 crore.

Meanwhile, Azim Premji promoted Prazim Traders sold over 4.49 crore shares of Wipro, while Zash Traders sold 4 crore shares of the company at the same price.

Prazim and Zash Traders are the two promoter entities of Wipro.

Shares of Wipro rose 0.92 per cent to close at Rs 568.60 apiece on the NSE.