Premji

Billionaire businessman and Wipro founder Azim Premji has gifted over 10 million or 1 crore shares, worth about Rs 500 crore to his two sons, Rishad and Tariq, according to data from the stock exchanges.The shares amount to 0.20% of the share capital of Wipro, adding 0.10% each to the sons’ holding in the company.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitMITMIT Technology Leadership and InnovationVisitIndian School of BusinessISB…

According to sources, the Chinese auto giant SAIC-owned MG Motor may be trying to sell its majority position in the Indian auto industry. It has been reported that the Chinese-British automaker is in “advanced negotiations” for an equity sale with a number of interested parties, including Reliance Industries, Hero Group, Premji Invest, and JSW Group. Although it has not been reported which of these groups is interested, it has been stated that the company is looking to close the deal before the end of this year. One…

Supply chain financing platform, Mintifi, has raised $110 million in a fresh round of funding led by Premji Invest, with existing investors Norwest Venture Partners, Elevation Capital and International Finance Corporation (IFC) participating in the funding round. Almost 90% of the raise is primary with the rest coming in through secondary sale of shares to provide liquidity to employees and early investors in the company.According to Mintifi, it will use a large part of the current raise to expand its loan book, and focus…

Ecommerce deliveries are facing significant disruptions in India’s capital, executives at online platforms and impacted brands said, stating that their on-ground teams are being penalised and harassed amid confusion, following the Delhi government’s recent order banning the use of two-wheelers as taxis. This and more in today’s edition of the ETtech Morning Dispatch.Also in this letter:■ IT employees should return to physical offices: Rishad Premji■ SoftBank sells shares worth Rs 954 crore in Delhivery■ Tech spending is a…