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Chairman of Wipro, Azim Premji has announced 34 percent of his organization’s share to Philanthropy

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Chairman of Wipro, Azim Premji has announced 34 percent of his organization’s share to Philanthropy

Wipro chairman Azim Premji as announced that he has enhanced his prior commitment to philanthropy, by renouncing 34% of the shares in Wipro, marking them to the funding, which supports the Foundation’s philanthropic activities. This is in addition to his earlier donations to philanthropy, which included Wipro’s shares, as well as other assets owned by him.

According to the statement by the Azim Premji Foundation, “He has done this (contribution) by additionally earmarking all economic benefits for philanthropic purposes, in approximately 34percentt of the shares in Wipro Limited (current market value Rs 52,750 crore), held by certain entities controlled by him.”

“The Foundation’s extensive fieldwork in education has been in some of the most disadvantaged parts of India, to help contribute to the improvement of quality and equity of the public (government) schooling system,” it added to the statement.

Over the next coming years, the Foundation will surely scale up their activities and thus leading to a healthy business. The all-new team is driving the field work in education is expected to grow significantly from the current 1600 people, while the Azim Premji University will expand to have 5000 students with 400 faculty members with multiple programs around the nation.

With another aim in their mind, the organization is also planning to set up another university in the northern part of India. Well, the current university is located in Bengaluru but the grant-making activities will move in full speed and expand rapidly, growing three times from its current levels, supporting good work across multiple domains of social importance in India. The company is having a great position in the IT sector and now with this strategy and its expansion aim to contribute meaningfully to developing a more just, equitable, humane and sustainable society in India.

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Published by Shifa Naz on 14 Mar 2019

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