March 14, 2012 / 4:02 PM / 6 years ago

Wipro says raised $150 mln from share auction

Wipro Chairman Azim Premji attends a session at the World Economic Forum (WEF) in Davos January 26, 2011. REUTERS/Vincent Kessler

MUMBAI (Reuters) - A trust controlled by Wipro’s (WIPR.NS) billionaire founder Azim Premji raised 7.5 billion rupees by selling 17.8 million shares through a newly approved share auction process, the trust said in a statement on Wednesday.

Proceeds from the share sale will be used to finance the education activities of the Azim Premji Foundation, a non-profit unit set up by Premji to improve the quality of education in the country, Wipro said on Monday.

Reporting by Sumeet Chatterjee and Aditi Shah; Editing by David Holmes

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