Wipro Promoter Entities Reshuffle Shareholding; Azim Premji's Equity Stake Rises
Zash Traders, an entity forming part of Wipro's promoter and promoter group, has acquired 12.10 crore equity shares of the IT major through an open market transaction on June 11, 2025, in an 'inter-se transfer'. This strategic purchase has increased the shareholding of Mr. Azim Hasham Premji, as a Partner Representing Zash Traders, along with persons acting in concert (PACs), in Wipro Limited.Following this acquisition, the total holding of Mr. Azim Hasham Premji (Partner Representing Zash Traders) in Wipro has increased by 1.16%, moving from 19.87% to 21.03% of the company's total equity share capital. The disclosure regarding this substantial acquisition was made to the stock exchanges (BSE Limited and National Stock Exchange of India Limited) and Wipro Limited on June 11, 2025, in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.
Change in Shareholding of Acquirer (Mr. Azim Hasham Premji Partner Representing Zash Traders) in Wipro Ltd.ParticularsNumber of Shares% of Total Share/Voting Capital*
% of Total Diluted Share/Voting Capital*
Holding Before Acquisition (as of June 11, 2025)2,08,11,33,58219.87%
19.87%Shares Acquired on June 11, 202512,10,00,0001.16%
1.16%Holding After Acquisition (as of June 11, 2025)2,20,21,33,58221.03%
21.03%
* As per the disclosure, percentages are calculated with respect to Wipro's total share/voting capital and total diluted share/voting capital. The company's total equity share capital/total voting capital before and after the acquisition stood at Rs. 20,94,46,72,098.Transaction Details
The acquisition involved 12,10,00,000 (Twelve Crore Ten Lakh) equity shares of Wipro Limited. The covering letter submitted with the disclosure explicitly stated that these shares were acquired "in open market on June 11, 2025." Zash Traders, represented by Mr. Azim Hasham Premji as a partner, was identified as the "Buyer."
It is noteworthy that while the covering letter specified the acquisition as an "open market" transaction, Point 6 of the accompanying Annexure A (the prescribed format for disclosure under SEBI SAST Regulations) mentioned the "Mode of acquisition / sale" as "inter-se transfer." An open market purchase typically involves acquiring shares directly from the stock market, potentially impacting public float and often viewed as a signal of promoter confidence. An inter-se transfer, on the other hand, usually refers to a transfer of shares between entities within the promoter group, which may not alter the overall promoter group holding but rather reallocates shares internally. The primary communication in the letter points towards an open market purchase by Zash Traders.The disclosure confirmed that the acquirer, Zash Traders, belongs to the Promoter/Promoter group of Wipro Limited. The total equity share capital and total voting capital of Wipro Limited remained unchanged at Rs. 20,94,46,72,098 before and after this transaction, indicating that the acquisition did not involve a fresh issue of shares by the company but was a secondary market transaction.Impact on Shareholding Structure
Prior to this acquisition, Mr. Azim Hasham Premji (Partner Representing Zash Traders) held 2,08,11,33,582 shares, constituting 19.87% of Wipro's total and diluted share capital. The addition of 12.10 crore shares has taken this holding to 2,20,21,33,582 shares, representing 21.03% of the company's capital. This marks a notable increase of 1.16 percentage points in the stake held by this promoter entity.The filing also clarified that there were no shares held in the nature of encumbrance (pledge, lien, non-disposal undertaking, etc.) by the acquirer before the transaction, and no new encumbrances were created or released as part of this acquisition. Similarly, the holding of voting rights otherwise than by shares, or through warrants/convertible securities by the acquirer, remained nil before and after the transaction.Promoter Group and Persons Acting in Concert (PACs)The disclosure identified several entities and individuals as Persons Acting in Concert (PAC) with the acquirer. These include:
- Mr. Azim Hasham Premji Partner Representing Hasham Traders (also listed as Acquirer/Promoter)
- Azim Premji
- Yasmeen A Premji
- Rishad Azim Premji (currently Chairman of Wipro)
- Tariq Azim Premji
- Mr. Azim Hasham Premji Partner Representing Prazim Traders
- Mr. Azim Hasham Premji Partner Representing Zash Traders (the acquirer itself)
- Azim Premji Trust
- Hasham Investment and Trading Co. Private Limited
- Azim Premji Philanthropic Initiatives Private Limited
This list underscores the collective nature of the promoter group's holdings and strategic investment decisions in Wipro.Regulatory Compliance and Market Context
The transaction was duly reported under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011. This regulation mandates disclosure by acquirers (including persons acting in concert) when their shareholding or voting rights in a target company cross certain thresholds, thereby ensuring transparency in the market regarding significant changes in ownership.
Purchases of shares by promoters or promoter group entities from the open market are generally perceived positively by the investment community. Such actions are often interpreted as a demonstration of the promoters' confidence in the company's current valuation, future prospects, and long-term strategy. This can bolster investor sentiment, especially during volatile market conditions or when a company is undergoing strategic shifts.
Wipro, a global information technology, consulting, and business process services company, is a key player in the Indian IT sector. Promoter activity in such a widely tracked company often draws significant market attention. While this specific transaction's direct impact on Wipro's stock price on June 12, 2025, would depend on broader market conditions and investor interpretation, increased promoter holding is fundamentally a supportive factor.
The disclosure was signed by authorized signatories Mr. Ganesh Kumar Ramachandran and Mr. Ajitesh H Nair, on behalf of Mr. Azim Hasham Premji Partner Representing Zash Traders, from Bangalore on June 11, 2025.