Wipro founder raises $150 million from share sale

A trust run by Azim Premji is able to sell only half the shares on offer, resulting in yet another disappointing outcome for India's new auction sales method.

<div style="text-align: left;"> Azim Premji, founder of Wipro </div>

Anette Jönsson

March 16, 2012

A trust controlled by Wipro’s founding chairman, Azim Premji, was able to raise Rs7.5 billion ($150 million) from the sale of shares in the Indian software company — roughly half of its targeted amount.

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