Azim Premji, the chairman of Wipro, has rubbished the media reports which suggested that he was considering selling a part of his stake int he company. Wipro, the third largest software services Indian company was started by Azim Premji and he, along with his family, own 70% of the total stake in the company.
In a letter written to his employees, Azim Premji stated that he is as committed to the company as he was at the starting of it. He also added that the endless possibilities in the field of information technology excite him and he is not thinking about downgrading his role in the development of the company.
On Monday, a media report had surfaced, which claimed that the promoters of the company were in talks with the investment bankers to evaluate the value of their shares and were possibly looking to sell out a portion of that. However, now that Premji has rubbished these claims, there should be a break on the media reports spreading false rumours.