Tariq Premji Enters Family Business at Wipro

Tariq Premji entered the family business at Wipro, a company founded by his father Azim Premji, which was initially a vegetable oil manufacturer.

Tariq took over as the CEO of Wipro in 2022, marking a significant shift in the company's leadership.

At Wipro, Tariq has been instrumental in driving the company's digital transformation efforts, leveraging technology to enhance customer experiences.

Tariq's entry into the family business has brought a fresh perspective to Wipro's operations, with a focus on innovation and growth.

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Tariq Premji has joined the board of Wipro Enterprises as a non-executive director. He will be joining his father Azim Premji and brother Rishad Premji on the board.

Wipro Enterprises is a company that comprises two main businesses: Wipro Consumer Care and Wipro Infrastructure Engineering. Wipro Consumer Care is into personal care products, lighting solutions, and office furniture, while Wipro Infrastructure Engineering provides hydraulic solutions for various applications.

Tariq's father Azim Premji heads the board of Wipro Enterprises. Other board members include Suresh C Senapaty, Vineet Agrawal, and Pratik Kumar. Tariq's brother Rishad Premji is also a non-executive director on the company's board.

Wipro Enterprises reported a 34 percent increase in consolidated net profit to Rs 949.3 crore in fiscal 2016-17. Its sales increased by 10 percent to Rs 8,248 crore in the same year.

The company's promoter and promoter group shareholding is at 98.45 percent.

Azim Premji, the billionaire philanthropist, gifted Wipro shares worth ₹500 crore to his sons Rishad and Tariq.

Tariq Premji, the younger son, received the gift, which is valued at ₹250 crore, as per the stock exchanges.

The Premji family gets monetary benefits from about 3% of the promoter shares, while the economic benefits of the remaining 65.6% shares go to the Azim Premji Foundation.

Azim Premji donated two-thirds of his wealth worth $21 billion in 2019 to charitable causes, including the dividend incomes from two-thirds of shares held by the family.

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The gift of Wipro shares is a significant one, worth over ₹500 crore, and it highlights the generosity of Azim Premji.

Azim Premji's wealth would total about $11.3 billion, including $1.3 billion of shares in Wipro and $10 billion worth of Wipro Enterprises Ltd.

The Premji family's philanthropic efforts are truly inspiring, and this gift is just one example of their commitment to giving back.

Here's a breakdown of the Premji family's shareholding in Wipro: