Azim Premji Trust to sell 1,530-crore Wipro shares to fund education - మీ వంతు సాయం మీరుకూడా చెయ్యండి.

BANGALORE: The endowment created by Azim Premji, one of the world's most generous philanthropists, will sell 1,530 crore in shares gifted to it by the Wipro founder to fund an expansive non-profit education initiative close to the heart of the software billionaire.

The Azim Premji Trust, which was gifted 213 million shares of Wipro in December 2010 (valued then at 8,846 crore), will sell 35 million of them, the first time it is doing so since the endowment was created.

The money will be used to fund the expansion of Azim Premji Foundation, which is working to improve teaching and learning in some of India's most backward districts. It will also help the Azim Premji University scale up its teaching and research work.

"The principal amount that we get from the sale could be used to directly fund the foundation or we could just put in the income we generate from these funds. We will probably do a combination of both," the trust's chief endowment officer KR Lakshminarayana said. 

Azim Premji Trust to sell 1,530-crore Wipro shares to fund education - The Economic Times