BY KENAN MACHADO

MUMBAI — Indian billionaire Azim Premji’s trust said Monday it will sell up to 35 million shares or a 1.4% stake in Indian software exporter Wipro Ltd. to fund the founder trust’s expansion plan, in a deal worth at least $300 million at current prices.

The Azim Premji Foundation, whose endowment is held by the Azim Premji Trust, intends to raise the money to scale up its field programs by establishing district and state-level institutions across India, it said. The move is a step towards Wipro’s founders paring down their …