"He has done this (contribution) by additionally earmarking all economic benefits for philanthropic purposes, in approximately 34 per cent of the shares in Wipro Limited (current market value Rs 52,750 crore), held by certain entities controlled by him," according to the statement by the Azim Premji Foundation.
Social media was abuzz with praises for the philanthropist with some calling him 'corporate robinhood'.
This is in addition to his earlier donations to philanthropy, which included Wipro's shares, as well as other assets owned by him.
The promoter holding in Bengaluru-based IT services giant Wipro Ltd stood at 74.3 per cent as on December 2018.
The Azim Premji Foundation works in education in the country and supports other not-for-profit organisations working in some specific areas through multi-year financial grants.
"The Foundation's extensive field work in education has been in some of the most disadvantaged parts of India, to help contribute to the improvement of quality and equity of the public (government) schooling system," it added.
The Foundation works closely with various state governments. It currently works in Karnataka, Uttarakhand, Rajasthan, Chhattisgarh, Puducherry, Telangana, Madhya Pradesh and the northeast region.
Its field strategy focuses on creating and scaling up a network of institutions at district and state levels, to help in overall improvement in the school education system on a continued and sustained basis.
Over the next few years, the activities of the Foundation are expected to ramp up significantly, the statement said adding that a university in the northern part of India may be set up by the Foundation at some point.