Bengaluru: Philanthropic Arm Azim Premenji has received more than RS 18,000 Crore in dividends and repurchases over the past five years.
And the number has increased since 2019, when Premenji is committed that the economic benefits come from 67% of Wipro shares – by means of dividends, stock sales, etc.
– will go to the endowment.
Premperi, direct and indirect, control 73% of Wipro shares.
Two of its philanthropic weapons, Azim Premesi Trust and Philanthropic Initiative Azim Premesi, are classified as part of the promoter group, and each accommodates 10.2% and 0.27% of the company.
While the dividends for years are quite large, what added to Corpus is the four repurchases carried out by Wipro in the last five years.
In the fiscal year ended 2017, 2018, 2020, and 2021, two philanthropical weapons received Rs 1,964 Crore, Rs 5,894 Crore, Rs 1,318 Crore, and RS 8,156 Crore each of the repurchases in those years.
In 2020, almost 86% of the repurchased Rs 9,500 Crore went straight to the two ownership of philanthropical ownership.
It seems that most of the shares tendered for the offer came from this arm, because their share ownership fell from 13.6% to 10.5% between FY20 and FY21.
However, they received around 13% of the repurchase of RS 10,500 Crore conducted in August 2019.
It is not clear whether they will also get a part of the benefits of shares tendered by other premeni-controlled entities, based on the previous Premeni commitment of the year.
The premsoize established Azim Premesi Foundation in 2000.
The aim is to facilitate the universalization of basic education.
Azim Premji Philanthropic Initiative, was founded in 2014, providing financial support through a multi-year grant for non-profit organizations that work for the most disadvantaged and marginalized people.
This foundation has more than 50 employees and has field institutions in more than 40 districts in six states and one union region.
Has made a significant commitment to overcome the health and humanitarian crisis arising from covid pandemics.
Premji was recently ranked 12th among the largest philanthropists in the world for the past 100 years in a report by Edelgive Foundation and Hallus India.
Azim Premesi’s Charity Arms Get Rs 18,000 Crore in 5 years
