Azim Premji writes letter to Wipro employees denying promoters sale stake reports, re-affirms commitment to company

Wipro Limited Chairman Azim Premji has denied a media report that promoters of the IT company were contemplating sale of their holdings in the IT major and said he "remains committed to Wipro."

In his letter to Wiproites, he had termed the news article reportedly published in this regard as "baseless and malicious."

A news website had yesterday quoting banking sources reported that the promoters of the India's third-largest IT services company are in the early stages of evaluating the sale of the company or some of its units, and have even approached investment banks.

In the letter sent out late last night to its employees, Premji said he continued to be "incredibly excited" about the potential of the IT industry and Wipro.

"Over the past 50 years, I have seen Wipro grow from a small regional player in vegetable oils to a global leader in technology. I continue to be incredibly excited about the potential of the IT industry and Wipro.. I see enormous energy within the company to power the success of our clients and therefore the success of Wipro," he said.

"I remain as committed to Wipro as I have ever been.. The news article about promoters of Wipro evaluating sale of their holding in the company is baseless and malicious.. There is no truth to these unsubstantiated rumours," he added. Premji along with his family own about 73.25 per cent shares in the company.