One of the Top Indian industrialist, Wipro Chairman Azim Premji said that he will transfer company shares worth Rs 8,846 crore to his endowment trust named Azim Premji Foundation later this month.
"The trust will fund the philanthropic activities of the Foundation and not (for) any other purpose," said Azim Premji Foundation CEO Dileep Ranjekar.
The foundation, which was set up in 2001, works largely for the cause of education in rural India.
Premji, who is also Wipro founder, plans to set up the Azim Premji University, which is expected to start operations next year. The university will offer programmes and conduct research in the field of education and other related areas.
- PTI Inputs