Premji & Assoc.

Who is Azim Hashim Premji?

Azim Hashim Premji is an Indian businessman and visionary leader born on 24th July 1945 in Mumbai. Azim Premji became the chairman of Wipro Ltd. in 1966 and served the organisation as chairman for more than 50 years. On 31st July 2019, he stepped down from the role and continued to act as a non-executive chairman for the next 5 years. 

Azim Premji - Early Life and Education

Azim Premji was born in Mumbai on 24th July 1945 in an Ismaili Muslim family from Gujarat. His father, Muhammad Hashim Premji, was a businessman known as the rice king of Burma. Further, in 1945, his father established Western Indian Vegetable Products Limited. It was engaged in the production of cooking vegetable oil under the brand name Sunflower Vanaspati. 

Azim Premji’s mother was a medical doctor. However, she didn’t practice medicine; instead, she dedicated almost 50 years of her life to help build and run a charitable hospital for polio and Cerebral Palsy Children in Bombay. His mother's act had a significant influence on him, igniting a spirit of philanthropy in Azim Premji.

Speaking of his education, Azim Premji graduated with a degree in electrical engineering from Stanford University. However, he was unable to complete his education in a physical mode because of his father’s demise in 1966. After this incident, he returned to India to take charge of his father’s business at the young age of 21. 

How Azim Premji Built Wipro Limited?

After taking the reins of WIPRO Limited in 1966, Azim Premji started diversifying the business into various segments. Under his leadership, the company diversified into consumer products, bakery fats, shoes, lighting products and hydraulic cylinders. 

However, in 1979, something big was coming up for Azim Premji and Wipro. The Indian Government restricted IBM from doing business in India. At this, Azim Premji saw a big opportunity in the Indian IT industry and space for WIPRO’s growth. Therefore, in 1977, Azim Premji renamed the company WIPRO and pivoted to the IT industry by manufacturing mini-computers in collaboration with a US company, Sentinel Computer Corporation. 

With the growing demand for technology-driven businesses and products, WIPRO Limited experienced massive expansion and growth. In 1982, the company started its first manufacturing unit to produce computer hardware and software-related items. Further, WIPRO Limited forayed into software development services and became a well-known brand globally.

After leading WIPRO Limited for almost 50 years, Azim Premji declared his retirement in 2019. Amid all this, Azim Premji also completed his Electrical Engineering degree through distance learning from Stanford University in 2000. 

Azim Premji and Associates - A Brief Introduction

Premji and Associates is an investment firm owned by Azim Premji. The firm's primary goal is to manage Azim Premji's personal wealth and investments, with a focus on long-term wealth creation. 

As per the latest available details, Premji and associates do not hold a stake in any stocks except WIPRO Limited, with approximately 72.7% holding in WIPRO. However, previously, the firm had shareholdings in two stocks: Balarampur Chinni Mills Limited and Tube Investment of India Limited.

Azim Premji Foundation - Steps Towards Philanthropy

On 9th March 2001, Azim Premji established the Azim Premji Foundation. It is a non-profit organization that focuses on addressing social and economic inequities by keeping education as the focal point of its operations. 

Since the foundation's inception, Azim Premji has contributed around 29 billion dollars to the organization as a philanthropic endowment. This endowment is used to fund the foundation's initiative.