Azim Premji gives half of his stake in Wipro for charity

July 9, 2015

Bengaluru, Jul 8: Economic value is sustainable only if created on a foundation of ethics and responsibility, say the IT czar

IT czar Azim Premji has given away almost half of his stake holding in Wipro, India’s third largest exporter of software services, to philanthropy.

azim premji
The Wipro’s billionaire founder has given away an additional 18 per cent of his stake in the IT Company for charity, thus earmarking 39 per cent of stake (worth Rs 53,284 crore) for a charitable trust.

The latest philanthrophic initiative by Premji would pump in an additional Rs 530 crore by way of dividends into the Azim Premji Trust’s corpus this year.

69-year old Premji is the first Indian to sign the Giving Pledge, sponsored by billionaires Warren Buffett and Microsoft co-founder Bill Gates to invite the world’s wealthiest to donate majority of their wealth to charity.

“Over the past fifteen years, I have tried to put this belief into action through my personal philanthropic work...,” Mr. Premji said in a letter to shareholders published in the company’s annual report for the year ended March 2015.

Mr. Premji said, “Over these years I have irrevocably transferred a significant part of the shareholding in Wipro, amounting to 39 per cent of the shares of Wipro, to a Trust (of which ownership in 21.14 per cent was transferred and for the balance the Trust is entitled to beneficial interest of dividends and sale proceeds).”

The previously transferred 21 per cent stake was estimated at USD 4.3 billion. The promoter group led by Mr. Premji holds 73.39 per cent stake in Wipro.

Mr. Premji was considered the ‘most generous Indian’ of 2014 according to the Hurun India Philanthropy List.

He said the Trust supports the work of The Azim Premji Foundation and Azim Premji Philanthropic Initiative and thus a very significant part of the value created by Wipro, goes towards social causes.

Mr. Premji also stated in the report that economic value is sustainable only if created on a foundation of ethics and responsibility.

“For us, this is the driving force in the form of our values and is something that we will continue to remain completely committed to,” he added.

The company’s Social and Sustainability Initiatives are driven by the conviction that corporations should play a significant role in contributing to building a better society, Mr. Premji said.

“The owners — individuals or other entities — of such corporations can do a lot more for society, because they can choose to exercise the right of their ownership, and invest their wealth in any social cause, to their utmost,” he said.

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News Network
November 30,2025

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Mangaluru, Nov 30: A 22-year-old college student succumbed to her injuries at a private hospital in Mangaluru today, days after she was hit by a goods tempo while crossing a road in Padubidri.

The deceased has been identified as Preksha, a resident of Nadsalu Billitota in Padubidri. The fatal incident occurred as Preksha, who was returning home after completing her examination, attempted to cross the service road towards Mangaluru. She was struck by a goods tempo approaching from the Udupi side, causing her to fall and sustain a severe head injury.

Prompt action from local residents ensured she received immediate first aid before being rushed to a hospital in Mangaluru for specialised treatment. Despite medical efforts, she passed away while undergoing care.

Preksha was a student at Karavali College, Vamanjoor on the outskirts of Mangaluru city. The tragedy is compounded by the fact that she belonged to a financially vulnerable family, having previously lost her father. She is survived by her mother and brother.

A case related to the accident has been registered at the Padubidri police station, and an investigation is underway to determine the exact circumstances that led to the collision. The incident highlights the growing concerns over road safety, particularly on busy service roads, and serves as a tragic reminder of the human cost of traffic accidents.

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coastaldigest.com news network
December 2,2025

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Udupi, Dec 2: A wave of regional pride is sweeping through Udupi district as Shagun S Verma Hegde, a talented Class 9 student from Christ King English Medium High School, Karkala, has been named the captain of the Indian National Team for the Under-15 Girls’ Volleyball Championship.

Shagun holds the unique distinction of being the sole player from Karnataka selected to represent the country in the prestigious international tournament. The championship, organized by the School Games Federation, is scheduled to take place in Shangluo, China, from December 3 to 13, where Shagun will lead the national squad.

A Remarkable Journey to the Top

Shagun’s selection is a testament to her dedication and exceptional skill on the court. Her journey included several rigorous rounds of selection:

•    She was the only player from Udupi district to qualify for the state-level selection camp.

•    Out of eight players from Karnataka who advanced to the national selection camp in Pune, Maharashtra, Shagun was the only one to secure a place in the final national squad.

•    The national camp saw participation from approximately 200 players, which was shortlisted to 23. Shagun not only made the final cut but was also ranked as the second-best player overall, solidifying her leadership role.

Shagun, who is the daughter of Sandesh Verma and Shruthiraj of Kallotte, Karkala, has trained under experienced coaches Santosh D’Souza, Jeevan D’Silva, Jairaj Poojary, and Ramesh. Her selection as the team captain has brought profound honour to her family, school, the Udupi district, and the entire state of Karnataka.

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News Network
November 30,2025

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Udupi: The pontiffs of Sri Paryaya Puttige Mutt, the sacred seat of Jagadguru Shrimad Madhvacharya Moola Samsthanam, have submitted a proposal to the Prime Minister seeking comprehensive development for Udupi district. 

Proposal for International Airport

A key request is the establishment of an international airport. Highlighting that around 1,000 acres of land are available and suitable, the pontiffs noted that the existing Mangalore Airport provides limited international connectivity. They suggested the airport be developed under a Public-Private Partnership (PPP) or as a Greenfield Airport to boost trade, education, healthcare, and spiritual tourism.

Metro and Rapid Transit Connectivity

The proposal also calls for Metro Rail or Rapid Transit between Mangaluru and Udupi. The 55 km coastal stretch experiences heavy daily commuter traffic, causing congestion. The district administration is ready to prepare an initial project report for a Mass Rapid Transit corridor and requested inclusion under national urban mobility programmes to ensure safe, green, and time-efficient regional transport.

Port and Coastal Development

The pontiffs urged the development of an international-standard port with a cruise terminal along Udupi’s coast. They also requested fast-tracking of pending coastal tourism projects and revising Coastal Regulation Zone (CRZ) norms to encourage sustainable infrastructure and hospitality investment.

IT, AI and Technological Infrastructure

Support was sought for an IT and AI Innovation Park with incubation facilities under Digital India and Startup India initiatives. The proposal also emphasized the need for strengthened data security and cloud computing infrastructure to boost India’s technological independence.

Sports and Education Initiatives

The pontiffs requested national sports status for Kambala, along with financial and infrastructure support. They also sought the establishment of an AIIMS in Udupi, a new IIT campus, and approval for an IIM to promote higher education in the district.

Representation to the Prime Minister

Sri Sugunendra Tirtha Pontiff and Sri Sushrendra Tirtha Swamiji represented the pontiffs in submitting the comprehensive development proposal to the Prime Minister during his recent visit.

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