The Azim Premji Trust and Azim Premji Philanthropic Initiatives have received over Rs 18,000 crore in the past five years in the form of dividends and buybacks from Wipro. Azim Premji continues to own a 73 percent stake in Wipro.
The founder has committed that the economic benefits from 67 percent of the Wipro shares he holds will go to these two philanthropic arms. In rupee terms, the two philanthropic arms received Rs 1,964 crore (2017), Rs 5,894 crore (2018), Rs 1,318 crore (2020), and Rs 8,156 crore (2021) from the buybacks. Both the Azim Premji Trust and Azim Premji Philanthropic Initiatives, classified as part of the promoter group, hold 10.2 percent and 0.27 percent of Wipro.
The Azim Premji Foundation was set up in 2000 with the aim to facilitate primary education for everyone. The Azim Premji Philanthropic Initiatives arm was set up in 2014. Its objectives are to provide financial support through multi-year grants to not-for-profit organisations. It funds NGOs that work for the most disadvantaged and marginalised people.
With over 1000 employees, field institutes in over 40 districts spread across six states and one UT, the foundation has made huge inroads in tackling health, education, and humanitarian crises caused by the COVID-19 pandemic.
Azim Premji was ranked No. 12 by EdelGive Foundation and Hurun India among the world’s greatest philanthropists in the past 100 years and has donated at least 10 times more money to charitable causes than anyone else in the country.
(Edited by : Shoma Bhattacharjee)