Wipro shares react to stake sale

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Wipro shares react to stake sale
Wipro: Quotes, News
BSE 290.15BSE Quote1.35 (0.47%)
NSE 290.75NSE Quote2.4 (0.83%)
Wipro shares reacted today to reports that the Azim Premji trust would sell shares in the company. The stock was trading lower at Rs 432.15, down 1.14% on the BSE at 2.15 pm

In order to support the continuing scale up of the Foundation the Azim Premji Trust had informed the stock exchanges on Monday that it proposes to sell up to 35 million shares of Wipro Limited held by it following the Offer For Sale process prescribed by SEBI.

The Azim Premji Foundation has been working in collaboration with various state governments across India to improve quality and equity in school education for over a decade.

The Foundation is scaling up its field programs by establishing district and state level institutions focused on capacity building of existing functionaries in the education and development sector, and running other relevant education related programs. The setting up of the Azim Premji University, under the aegis of the Foundation, is another dimension of this scale up.

The University is focused on programs of research and teaching in education and other related domains. In 5 years the Foundation aims to scale up from the current 10 district and state level institutions to about 60 institutions, largely in the disadvantaged districts of the country.

Each such district, where the Foundation will establish an institution will also have two “demonstration schools”. In the same period of 5 years the University will also scale up its teaching and research programs significantly.


Read more about: wipro, shares, sebi
Story first published: Tuesday, March 13, 2012, 10:15 [IST]
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