Azim Premji donates Rs 52,750 crore of Wipro shares to his foundation

"It should be noted that Azim Premji, through the foundation, will continue to exercise voting rights corresponding to these shares, and will continue to control the IT services company," it added.

However, the economic benefits will be entirely routed through the foundation and towards the stated objectives for which the foundation has been set up.

The Azim Premji Foundation works in the field of education directly. It also supports other not-for-profits working in some specific areas through multi-year financial grants.

“The foundation’s field strategy focuses on creating and scaling up a network of institutions at the District and State levels, to contribute to improvement in the school education system on a continued and sustained basis,” it said.