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India's Wipro says raised $150 mln from share auction
March 14, 2012 / 3:52 PM / 6 years ago

India's Wipro says raised $150 mln from share auction

MUMBAI, March 14 (Reuters) - A trust controlled by Wipro’s billionaire founder Azim Premji raised 7.5 billion rupees ($150 million) 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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