Chief of Wipro, Aziz Premji may buy an additional 5% Stake in JM Financial

Published By : 05 Dec 2013 | Published By : QYRESEARCH

The new buzz word in the market talks about Aziz Premji – the billionaire of the multinational company Wipro who plans on buying additional 5% stake in the company. As JM Financial waits for the RBI view on the bank license, along with Premji, former Citibank chief Vikram Pandit is also one of the key investor in this banking pursuit. 

The renowned chairman and founder of IT firm Wipro currently holds 2.9% stake in the individual investment portfolio in the Nimesh Kampani-led JM Financial. It is one of the 25 aspirants eyeing banking foray today. 

Many of the market sources also informed that Premji did not respond to the queries in regards to the JM Financial Company. However, sources said that the company may allot brand new shares amounting to 5% additional stake to the IT czar.

Nonetheless, since there was no official confirmation on this subject, various sources said that the shares can be assigned at a considerable premium to the current share price. The shares closed 5.1% up at.`28.85 apiece on Friday.

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