Wipro Chief Azim Premji denies media report on sale of stake

Bengaluru: Wipro Limited Chairman Azim Premji has denied a media report that promoters of the IT company were evaluating sale of their holdings and said he "remains committed to Wipro."

In his letter to Wiproites, he had termed the news article reportedly published in this regard as "baseless and malicious."

Wipro founder Azim Premji. Reuters

Wipro founder Azim Premji. Reuters

A news website had yesterday quoting banking sources reported that the promoters of the India's third-largest IT services company are in the early stages of evaluating the sale of the company or some of its units, and have even approached investment banks.

In the letter sent out late last night to its employees, Premji said he continued to be "incredibly excited" about the potential of the IT industry and Wipro.

"Over the past 50 years, I have seen Wipro grow from a small regional player in vegetable oils to a global leader in technology.. I continue to be incredibly excited about the potential of the IT industry and Wipro.. I see enormous energy within the company to power the success of our clients and therefore the success of Wipro," he said.

"I remain as committed to Wipro as I have ever been.. The news article about promoters of Wipro evaluating sale of their holding in the company is baseless and malicious.. There is no truth to these unsubstantiated rumours," he added.

Premji along with his family own about 73.25 percent shares in the company.


Published Date: Jun 06, 2017 04:00 pm | Updated Date: Jun 06, 2017 04:00 pm


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