Premji, chairman of India’s thirdbiggest IT services exporter Wipro, will do this by transferring about 8.6% stake worth over 8,000 crore to a private trust controlled by him. The trust will then use the money to finance the educational initiatives being carried out under the ambit of the Azim Premji Foundation.
Sunil Mittal of Bharti and Shiv Nadar of HCL Technologies are spending money on education and the government is also stressing greater corporate involvement in social service activities.
Nadar recently donated over 580 crore by selling his 2.5% stake in HCL Technologies to fund the education initiatives of his eponymous foundation. Mittal’s Bharti Foundation is running free English-medium schools for about 30,000 students in Punjab, Haryana, Rajasthan , Tamil Nadu and Uttar Pradesh.
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