Wipro block deal: Azim Premji Trust sells 20.23 crore equity shares worth ₹5,057 crore

According to the block deal data available with the NSE, promoter entity Azim Premji Trust offloaded 20.23 crore equity shares, or a 1.93% stake, in Wipro. The transaction, valued at around ₹5,057 crore, was executed at an average price of ₹250 per share.

Meanwhile, Premji Invest, through its arm Prazim Trading and Investment Company Pvt Ltd, Hasham Traders and Prazim Traders, bought these shares at the same price.

Prazim, Zash and Hasham Traders are part of Wipro's promoter group.

On Tuesday, shares of Wipro rose 0.76% to ₹253.20 apiece on the National Stock Exchange.

In November last year, Premji Invest, through Prazim Trading and Investment Company, purchased 8.49 crore shares, or a 1.6% stake, in Wipro for ₹4,757 crore, while Prazim and Zash Traders offloaded an equal number of shares in the IT company.

On Monday, the IT major also announced that it has relocated its Middle East regional headquarters from Al Khobar to Riyadh, Saudi Arabia.

The Bengaluru-headquartered firm has also recently appointed Mohamed Mousa as Managing Director for the Middle East, out of the new headquarters, according to a regulatory filing.

The country's leading information technology services company reported a consolidated net profit of ₹3,570 crore for March quarter of FY25, marking an increase of 26% from ₹2,834.60 crore in the same period last year. On a sequential basis, Wipro's net profit rose 6.43%.

For Q4 FY25, Wipro's revenue from operations rose 1.22% annually to ₹22,504 crore, and sequentially, its revenue rose 1.33%.

IT services segment revenue declined to $2,596.5 million, down 1.2% quarter-on-quarter (QoQ) and 2.3% YoY. On a non-GAAP constant currency basis, the segment saw a 0.8% QoQ and 1.2% YoY decline, signalling continued softness in client spending.

For the March quarter, the large-cap IT services firm reported a gross revenue of ₹22,500 crore ($2,634.2 million), an increase of 0.8% QoQ and 1.3% YoY.

For the June 2026 quarter, the company expects revenue from its IT Services business segment to be in the range of $2,505 million to $2,557 million. This translates to sequential guidance of (-)3.5% to (-)1.5% in constant currency terms.