Wipro head Azim Premji denies media report on stake sale

Wipro chief Azim Premji in a clarification over the rumors about the promoters’ selling their holdings in the company, denied any such developments. The chairman of the company reassured that he ‘remains committed to Wipro’.   
 
Premji addressed the Wiproites in a letter, scraping off the media reports about the stake sales by terming the reports as ‘baseless and malicious’.   
 
The rumor spread like wild fire after a news website posted reports of the promoters of India’s third largest IT services company evaluating the sale of the company or some units of the company. The reports even affirmed that the promoters have approached the investment banks for the same.    
 
In the letter, Premji wrote that he is ‘incredibly excited’ about the capabilities of the IT industry as well as Wipro. Azim Premji and the entire Premji family owns nearly 73.25 per cent shares in the IT major company.