Hindusthan Samachar
Banner 2 शुक्रवार, मार्च 22, 2019 | समय 06:15 Hrs(IST) Sonali Sonali Sonali Singh Bisht

Azim Premji to donate shares worth Rs. 500 billion philanthropic entity

By HindusthanSamachar | Publish Date: Mar 14 2019 4:10PM
Azim Premji to donate shares worth Rs. 500 billion philanthropic entity
New Delhi, 14 march(H.S.). Azim Premji is the second richest man in India. He is the chairman of Indian conglomerate Wipro Ltd. He will donate 34 percent of the shares in the entities controlled by him for philanthropic purposes. The shares are estimated to have worth around 500 billion rupees. Therefore, according to figures, this will be the most generous donation in Indian history. According to statement released by Azim Premji foundation, the shares have been irrevocably renounced and earmarked in favor of Azim Premji Foundation. Foundation is connected with education and supports many not-for-profit organisations aimed at serving underprivileged and neglected Indians with financial grants. It also runs Azim Premji University to develop professionals and conduct research. With this addition in its corpus, the foundation will triple its grants and increase the staff. The existing Bangluru university will expand to 5000 students and new university will be set up in North India. With this generous donating act, the philanthropic endowment corpus contribution by Mr. Azim Premji has reached around massive 1400 billion rupees which is equal to the value of 67 percent ownership shares of Wipro. Hindusthan Samachar/Bharati/Pramod \
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