Wipro
 | |
 Headquarters at Sarjapur Road, Bangalore | |
Trade name | Wipro |
|---|---|
| Formerly | Western India Vegetable Products Limited (1945-1977) Wipro Products Limited (1977-1982) |
| Type | Public |
Traded as | |
| Industry | Information technology |
| Founded | 29 December 1945 |
| Founder | M. H. Hasham Premji |
| Headquarters | Sarjapur Road, Bangalore , India |
Area served | Worldwide |
Key people |
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| Services |
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| Revenue |  ₹89,760 crore (US$11 billion) (FY24) |
Operating income | ₹13,609 crore (US$1.6 billion) (FY24) |
Net income | ₹11,112 crore (US$1.3 billion) (FY24) |
| Total assets | ₹115,245 crore (US$14 billion) (FY24) |
| Total equity | ₹75,122 crore (US$9.0 billion) (FY24) |
| Owner | Azim Premji (73.85%) |
Number of employees | 234,054 (March 2024) |
| Subsidiaries |
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| Website | www |
Wipro Limited (; stylized in lowercase title) is an Indian multinational corporation that provides information technology, consulting and business process services. It is one of the leading Indian Big Tech companies. Wipro's capabilities range across cloud computing, computer security, digital transformation, artificial intelligence, robotics, data analytics, and other technologies, servicing customers in 167 countries.
History
Early years
The company was incorporated on 29 December 1945 in Amalner by MH Hasham Premji as Western India Vegetable Products Limited, a manufacturer of cooking oils.
The company changed its name to Wipro Products Limited in 1977, followed by Wipro Limited, a syllabic abbreviation of the original name, in 1982.
Shift to IT
In the 1980s, recognizing opportunities in computer hardware and software, the company established subsidiaries Wipro Infotech and Wipro Systems. In 1981, Wipro developed the first Indian minicomputer based on the Intel 8086 chip in an IISc lab. The software division began in 1984 by developing a spreadsheet and word-processing suite, but turned to offshore software development in 1990.
By mid-1990s, Wipro had become one of India's leading manufacturers of personal computers, peripherals and medical diagnostic equipment. In 1998, the company reported being the second-largest software exporter from India, and gradually increased its focus on the higher-margin software services business which accounted for the vast majority of its profits.
Amidst the dot-com boom in early 2000, Wipro became the most-valued company in India, with a peak market capitalization three times that of the next largest listed company, Infosys. As a result, Azim Premji's net worth rose substantially, making him the richest Indian for five consecutive years.
In 2004, Wipro became the second listed Indian IT company to earn US$1 billion in annual revenue.
In 2007, Wipro introduced its line of supercomputers called Wipro Supernova. In 2011, Wipro and the Indian Space Research Organisation (ISRO) designed India's then-fastest supercomputer, SAGA-220, which was deployed at the Vikram Sarabhai Space Centre.
In 2012, Wipro demerged its non-IT businesses into a new private company called Wipro Enterprises. Prior to this demerger, these businesses—mainly in consumer care, lighting, furniture, hydraulics, water treatment, and medical diagnostics—contributed about 14% of Wipro's total revenues.
Notable acquisitions
In 2006, Wipro acquired California-based technology company cMango for $20 million.
In 2012, Wipro acquired Australian analytics company, Promax Applications Group for A$35 million.
In 2015, Wipro acquired Denmark-based design consultancy Designit for €85 million.
In 2016, Wipro acquired cloud services consultancy Appirio for $500 million.
In February 2020, Wipro acquired Rational Interaction, a Seattle-based digital customer experience consultancy.
In March 2021, Wipro acquired Capco, a technology management consultancy specializing in financial services industry, for $1.45 billion. It acquired cybersecurity firm Ampion for $117 million.
In 2022, Wipro acquired American consulting firm Convergence Acceleration Solutions (CAS) for $80 million. This was followed by the acquisition of Rizing Intermediate Holdings, a US-based SAP consultancy company, for $540 million.
In February 2024, Wipro acquired US-based insurtech firm Aggne Global Inc for $66 million.
Corporate affairs
Wipro's equity shares have been listed on Bombay Stock Exchange since 1946 and the National Stock Exchange of India where it is a constituent of the NIFTY 50. The American Depositary Shares of the company are listed on the New York Stock Exchange (NYSE) since October 2000.
As of September 2023, the promoter group headed by Azim Premji held a 72.93% stake in the company, while the remaining shares were with public shareholders and an employee trust.
Leadership
List of CEOs since 1981:
- Ashok Narasimhan (1981–1988)
- Ashok Soota (1991–1999)
- Vivek Paul (1999–2005)
- Azim Premji (2005–2008)
- Girish Paranjpe and Suresh Vaswani (2008–2011)
- T. K. Kurien (2011–2016)
- Abidali Neemuchwala (2016–2020)
- Thierry Delaporte (2020–2024)
- Srini Pallia (2024–present)
Sponsorships
Wipro, as a member of the Electronic City Industries Association, partly funded the construction of the 9-km Electronic City Elevated Expressway in Bangalore which opened in 2010. Wipro has been the title sponsor of the San Francisco Marathon, Chennai Marathon, and Bengaluru Marathon at different times.
External links
- Business data for Wipro: