How Wipro Shares Turned Residents From This Small Village In Maharashtra Into Millionaires

In the serene town of Amalner, Maharashtra, a tale of unexpected fortune unfolds, rooted in the legacy of Wipro, India’s fourth-largest IT company. Once known for producing vanaspati ghee and cooking oil, Wipro’s metamorphosis into a tech behemoth has turned its early shareholders, many from this small town, into millionaires.

Azim Premji, steering this transformation, recently brought in Abidali Neemuchwala to rejuvenate the company. While analysts debate Wipro’s position in the IT sector, the town’s stakeholders, including farmers, shop owners, and retirees, remain unswayed. Their faith in Wipro is not just sentimental; it’s lucratively rewarding.

What to know: Consider Ashish Pahade, who inherited shares from his father. What cost a few hundred rupees in the 1970s is now a fortune exceeding ₹5 crore. Pahade’s dividends have fueled his lending business. Similarly, Arvind Muthe discovered shares worth crores, left by his father, helping him escape financial distress.

The story extends to the Daga family, whose inherited stake in Wipro’s consumer products is now valued at around ₹28 crore. This wealth creation is staggering — Amalner residents hold over 3% of Wipro, translating to about ₹3,000 crore.

See also: How This Actor With An MBA Degree Saved Up Funds From Gigs To Build A 50-Cr Khichdi Empire

Shantilal Jain’s tale is particularly striking. Investing ₹100 in the 1970s, he now owns shares worth over ₹1 crore. His story mirrors many in Amalner, where Wipro dividends have funded homes and stable incomes. Muhammad Anwar Ahmed’s ₹10,000 investment, now worth a jaw-dropping ₹500 crore, is a testament to the transformative power of patient investment.

Beyond the realms of IT: In Amalner, Wipro transcends being just a company; it weaves itself as a legacy into the fabric of the community. The shareholders, grounded yet proud, view their holdings as more than just financial assets. For them, it’s a symbol of trust in Premji’s vision and a source of enduring security. Rameshlal Korani’s house, aptly named ‘Wipro,’ epitomizes this sentiment. Despite market volatility, these shareholders remain steadfast, their dividends outweighing the value of their shares.

Amalner’s story refreshingly narrates how, in a world where the elite often dominate the stock market, the average person can reap life-changing rewards from long-term investment in a growing company. It's a story of patience, faith, and the transformative power of visionary leadership, echoing across the sleepy hinterlands of India to the bustling global tech stage.

Read next: Insurance Professional Turned Farmer Now Earns ₹21-Cr A Year From Organic Farming