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Wipro Limited Chairman Azim Premji has denied a media report that promoters of the IT company were evaluating sale of their holdings and said he "remains committed to Wipro." In his letter to Wiproites, he had termed the news article reportedly published in this regard as "baseless and malicious." A news website had yesterday quoting banking sources reported that the promoters of the Indias third-largest IT services company are in the early stages of evaluating the sale of the company or some of its units, and have even approached investment banks. In the letter sent out late last night to its employees, Premji said he continued to be "incredibly excited" about the potential of the IT industry and Wipro. "Over the past 50 years, I have seen Wipro grow from a small regional play...

Working quietly since 2006, Premji Invest investment firm has built up positions and funded around 40 publicly listed and private companies out of a corpus of $1 billion (Rs4,290 crore). Yet, its operations are shrouded in secrecy and the firm has consciously avoided building a public profile. Premji Invest is a private equity fund owned by Azim Premji, which manages over $2 billion of Azim Premji's personal wealth by investing in capital markets and picking minority stakes in start-ups, including homegrown e-commerce companies such as Flipkart and mobile payment companies such as Chennai-based Financial Software and Systems. The investment ratio for Premji Invest is analysed as follows: Till date, more than 60% of its total cash have gone in capital markets, buying stocks of firm...

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Wipro Chief Azim Premji Denies Media Report on Selling Wipro stake

Premji Invest: A Investment group led by Azim Premji