Wipro CFO sells shares worth Rs 3.6 crore

Executive director and chief financial officer of Wipro Suresh C Senapaty has sold 85,000 shares of the company for a realisation value of Rs 3.6 crore (Rs 36 million) on February 1, the company said in a filing to the BSE.

This is more than half of the shares he holds. This leaves him with 53,083 shares, which is 0.0022 per cent of the company. Senapaty could not be reached for comments.

Senior executives selling their stakes is not unusual. Wipro Chairman Azim Premji had donated 8.6 per cent of his stake in the company worth Rs 8,846 crore (Rs 88.46 billion) to his charity foundation.

Similarly, founder-chairman of HCL Shiv Nadar raised Rs 585 crore (Rs 5.85 billion) by selling 2.5 per cent stake in HCL Technologies last year.

Tech Mahindra Vice-Chairman Vineet Nayyar donated 350,000 shares worth Rs 31.78 crore (Rs 317.8 million) to Essel Social Welfare Foundation, a non-governmental organisation run by his wife Reva Nayyar.

Former CEO of Tech Mahindra Sanjay Kalra had sold 4.8 lakh shares last March or nearly 78.56 per cent of his holding in the company, fetching him about Rs 44 crore (Rs 440 million) in six separate transactions spread over three days.