Latest news with #AzimPremji
India.com
2 days ago
- Business
- India.com
Azim Premji's masterstroke, to acquire majority stake in…, milestone for Wipro Aerospace, announced at…
Azim Premji- File image Wipro Infrastructure Engineering (WIN) is a provider of engineering and manufacturing solutions. They announced on Wednesday its plan to acquire a majority stake in Lauak Group which is a French manufacturer of aircraft components. Lauak Group was established 50 years ago and is a family-run business that supplies parts to prominent global aerospace companies. Details about the stake size and deal value are not disclosed. WIpro On Partnership With Lauak 'Wipro Infrastructure Engineering (WIN), a leading global engineering and manufacturing solutions provider and the Charritton Family, founders and current shareholders of Lauak Group, announced today at the Paris Air Show that they have entered into exclusive negotiations for a majority stake acquisition in the company. 'The proposed transaction was submitted to the relevant employee representative bodies for consultation, and all necessary approvals have now been received,' a company statement said. The transaction is expected to close in the coming months, it said. New Name: 'Wipro Lauak' Lauak Group and Wipro names would be combined to form Wipro Lauak. The deal will establish a joint Board of Directors with representatives from both Wipro and Lauak to oversee the company's future operations and growth. Lauak Group CEO Mikel Charritton will remain in his role. 'This planned acquisition represents a significant moment in the continued growth of Wipro Aerospace. Lauak's rich legacy in Aerospace and specialised expertise aligns with our long-term vision of building a fully integrated, global aerospace solutions platform. Together, we would be positioned to deliver greater value, agility, and innovation to our customers worldwide,' Pratik Kumar, CEO, Wipro Infrastructure Engineering, said. (With Inputs From PTI)
Mint
2 days ago
- Business
- Mint
Premji Invest's latest bet? A tech-powered NBFC led by a former ICICI banker
MUMBAI : Premji Invest, the family office of Wipro founder chairman Azim Premji, is looking to back former ICICI Bank banker Bijith Bhaskar to set up a tech-driven non-banking finance company (NBFC), according to a person close to the matter. The firm, which makes early and growth-stage investments in start-ups, is looking to pick up a 20% stake in the NBFC, which will focus on secured small business loans. The NBFC, which has not been given a name yet, is looking to raise around ₹500 crore from Premji Invest and a couple of other investors, added the person cited earlier. Also Read: Inflation fears rise in households: RBI poll 'There is a great need for tech-driven data-led NBFC which focuses on secured lending," he said. 'Being fully digital, data and tech driven, this will be a low opex model." Bhaskar, who previously worked in several roles at ICICI Bank, including digital banking head, is now an operating partner of the India Private Markets Team at Premji Invest. He is currently in the process of applying for an NBFC licence with the Reserve Bank of India (RBI). According to RBI norms, an NBFC can be incorporated if it has a minimum net owned fund of ₹10 crore. Premji Invest's recent bets On 12 June, VCCircle reported that Premji Invest had invested in Premier Energies Ltd, a maker of solar cells and solar modules, and Indegene Ltd, a life sciences company, over the past few days. This is in addition to the two investments they made earlier this year. Also Read: RBI aims to boost economic growth, liquidity with jumbo rate and CRR cuts The family office first teamed up with Manipal Group chairman Ranjan Pai's family office, Claypond Capital, to invest in Akasa Air in early February. The firm also subscribed to shares worth about ₹23 crore in Ajax Engineering Ltd as part of the anchor allotment by the concrete equipment manufacturing company ahead of its initial public offering (IPO). According to its website, TVS Credit and KreditBee are its two investments in the non-bank sector within its financial services portfolio. Last year, it saw at least 15 transactions, including investments in fintech firm Mintifi, furniture retailer WoodenStreet, jewellery brand Giva, wealth management startup Dezerv, and US-based legal-tech startup EvenUp. "The secured MSME (Micro, Small and Medium Enterprises) lending space is seeing a lot of traction, unlocking the assets owned by businesses for debt capital," said digital lending expert Parijat Garg. 'Several lenders have recently diversified from being unsecured players into secured play. LAP (loans against property) has grown by 22%+ YoY (year-on-year) over the past few years, with NBFCs leading with 38% share." Also Read: US in stagflationary shock, India remains outlier: BofA Premji Invest has also invested in two life insurance companies—HDFC Life and ICICI Prudential—the National Stock Exchange (NSE), and Smallcase, a stock market investment app.
India.com
10-06-2025
- Health
- India.com
Tata Memorial Centre's biggest tie up with Azim Premji's Wipro for noble cause of…, to set up…
Azim Premji- File image Tata Memorial Centre (TMC) has partnered with Wipro GE HealthCare Technologies Inc to set up a Cancer Research and Innovation Centre. This collaboration focuses on enhancing clinical research and academic initiatives through the formation of a 'Joint Working Group.' The group will identify key project areas and develop a collaborative roadmap for the next five years, TMC stated in its announcement. 'The government is adopting a strategic, policy-driven approach to fight cancer with the establishment of daycare centres, expansion of cancer care ecosystem, promoting cancer screenings and awareness programmes. However, early detection, equitable access and preventive care remain a challenge,' Tata Memorial Hospital Director CS Pramesh stated. With Wipro GE HealthCare, TMC aims to enhance clinical research and promote academic engagement to transform personalised cancer care for improved outcomes cancer care, he added. 'With this partnership, we strengthen our commitment to connect every step of cancer care right from discovery, diagnosis to treatment, integrating advanced imaging technologies and AI-led solutions in the care continuum,' Wipro GE HealthCare South Asia President and CEO Chaitanya Sarawate said. In India, the estimated number of incidences of cancer cases was more than 14 lakhs in 2023, he added. As per industry estimates, around 100 out of every 1 lakh people in India are diagnosed with cancer, and a report from the Cancer Registry Program states the incidence of cancer cases is estimated to increase by 12.8 per cent in 2025 as compared to 2020. The Tata Memorial Hospital (TMH) was set up by the Sir Dorabji Tata Trust in 1941. It was placed under the control of the Indian government's Ministry of Health in 1957. In 1962, TMH began operating under the government's Department of Atomic Energy. In 1966, TMH was merged with the Indian Cancer Research Institute and renamed the Tata Memorial Centre (TMC). (With Inputs From PTI)
India.com
10-06-2025
- Business
- India.com
Azim Premji Trust sells Wipro's 20 cr shares for Rs 50570000000 due to…, buyers were…
Wipro's promoter entity Azim Premji Trust sold 20.23 crore shares worth Rs 5,057 crore in the company via a block deal. They were equating to a 1.93% stake, and were traded among promoter group entities via open market transactions on Monday, as per exchange data. The buyers were Hasham Traders and Prazim Traders who bought 11.90 crore shares and 5.95 crore shares in the company, respectively. On the same day, Wipro's stock gained 1.09% to close at Rs 251.30 on the BSE, while it ended 1.26% higher at Rs 251.72 on the NSE. According to the block deal data available with the NSE, promoter entity Azim Premji Trust offloaded 20.23 crore equity shares or 1.93 per cent stake in Wipro. The transaction, valued at around Rs 5,057 crore, was executed at an average price of Rs 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. In November last year, Premji Invest through Prazim Trading and Investment Company purchased 8.49 crore shares or 1.6 per cent stake in Wipro for Rs 4,757 crore, while Prazim and Zash Traders offloaded an equal number of shares in the IT company. Azim Premji Trust supports the Azim Premji Foundation's work in India, particularly in education. Azim Premji is also the founder and former chairman of Wipro, a global IT services company. He is still a non-executive member of the board and founder chairman of Wipro. (With Inputs From PTI)
News18
10-06-2025
- Business
- News18
Wipro Shares In Focus After Azim Premji Trust Sells Equities Worth Rs 5,057 Cr
Last Updated: The primary purchasers in this deal were three entities: Hasham Traders, Prazim Traders, and Prazim Trading and Investment Company Private Limited. Wipro Share Price: Wipro's shares garnered significant attention on Tuesday, June 10, following a major transaction where the Azim Premji Trust sold 20.23 crore equity shares worth Rs 5,057 crore through a block deal. According to NSE data, the equity price for each Wipro share was set at Rs 250. The primary purchasers in this deal were three entities: Hasham Traders, Prazim Traders, and Prazim Trading and Investment Company Private Limited. On Monday, Hasham Traders acquired 11.9 crore equity shares, Prazim Traders bought 5.95 crore shares, and Prazim Trading and Investment Company Pvt Ltd purchased 2.38 crore shares, all at an average price of Rs 250 per share. Wipro's shares closed at Rs 251.30 on BSE on Monday, marking a gain of 1.09 per cent. The stock opened at Rs 249.30, compared to the previous day's close at Rs 248.60. The Azim Premji Trust is a philanthropic organization established by Indian business magnate Azim Premji to support his philanthropic pursuits. It focuses on education, health, and livelihood, aiming to create a more just, equitable, humane, and sustainable society. Azim Premji Trust held 1,06,31,85,966 equity shares in the company which represented 10.15% stake as on March 31, 2025. First Published: June 10, 2025, 07:06 IST
