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The Azim Premji Foundation on Monday said it plans to sell up to 35 million shares of Wipro Ltd to raise funds to scale up its activities.
As per Monday's closing price of Rs 437.15, it amounts to over Rs 1,500 crore. The foundation proposes to sell 35 million shares or about 17 per cent of total shares held by the Foundation through an offer-for-sale process, a notice to the stock exchange said. The statement said the Foundation has been working in collaboration with various State governments to improve quality and equity in school education.
The Foundation is scaling up its field programmes by establishing district and State-level institutions.
>venkatesh.ganesh@thehindu.co.in
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