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Wipro Limited
Wipro
FormerlyWestern India Vegetable Products Limited (1945–1977)
Wipro Products Limited (1977–1982)
Company typePublic
ISININE075A01022
IndustryInformation technology
Consulting
Outsourcing
Founded29 December 1945; 79 years ago (29 December 1945)
FounderMuhammed Hashim Premji
Headquarters
Bengaluru, Karnataka
,
India
Area served
Worldwide
Key people
Rishad Premji
(Executive chairman)
Srini Pallia
(CEO)
Services
RevenueIncrease ₹92,972 crore (US$11 billion) (2025)
Increase ₹17,495 crore (US$2.1 billion) (2025)
Increase ₹13,218 crore (US$1.6 billion) (2025)
Total assetsIncrease ₹128,185 crore (US$15 billion) (2025)
Total equityIncrease ₹82,577 crore (US$9.8 billion) (2025)
OwnerAzim Premji (72.67%)[1]
Number of employees
233,346 (March 2025)[2]
Subsidiaries
Websitewww.wipro.com
Footnotes / references
Financials as of 31 March 2025.[3]

Wipro Limited (/ˈwɪproʊ/ ⓘ) is an Indian multinational technology company based in Bengaluru. It provides information technology, consulting and business process services, and is one of India's Big Six IT services companies. Wipro's services include cloud computing, computer security, digital transformation, artificial intelligence, robotics, data analytics, and other technologies.[4]

History

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Early years

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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.[5][6][7] In 1966, after Hasham Premji's death, his son Azim Premji took over as chairperson at age 21.[8]

The company changed its name to Wipro Products Limited in 1977, followed by Wipro Limited, a syllabic abbreviation of the original name, in 1982.[6]

Shift to IT

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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.[9][10] The software division began in 1984 with the development of a spreadsheet and word-processing suite but shifted to offshore software development in 1990.[11]

By the mid-1990s, Wipro had become one of India's leading manufacturers of personal computers, peripherals, and medical diagnostic equipment.[12] In 1998, the company reported being the second-largest software exporter from India,[13] and gradually increased its focus on the higher-margin software services business which accounted for the vast majority of its profits.[14]

During the dot-com boom of the early 2000s, Wipro became the largest company in India by market capitalization, reaching a value three times that of the next largest listed company, Infosys. Consequently, Wipro's majority shareholder Azim Premji was the richest Indian for five consecutive years.[15][16]

In 2004, Wipro became the second listed Indian IT company to report annual revenues exceeding US$1 billion.[17] By 2006, approximately 30% of its total revenue came from product engineering R&D services.[18]

In 2007, Wipro introduced a line of supercomputers known as Wipro Supernova.[19] In 2011, Wipro, in collaboration with the Indian Space Research Organisation (ISRO), developed India's then-fastest supercomputer, SAGA-220, which was deployed at the Vikram Sarabhai Space Centre.[20][21]

In 2012, Wipro demerged its non-IT businesses into a new private company named Wipro Enterprises.[22] Prior to this demerger, these businesses—primarily in consumer care, lighting, furniture, hydraulics, water treatment, and medical diagnostics—accounted for about 14% of Wipro's total revenues.[23]

In 2014, Wipro set up its design and mobility services business division called Wipro Digital.[24] In 2015, Wipro established its strategic investment arm–Wipro Ventures–to invest in early- and mid-stage enterprise software startups and venture capital funds in the US, India and Israel.[25][26]

In 2021, Wipro reported that a third of its workforce was engaged in cloud projects, and announced a $1 billion investment in its FullStride Cloud Services vertical.[27]

Operations

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Wipro serves clients in industries such as financial services, healthcare, manufacturing, retail, and telecommunications. As of 2025, its service offerings are divided under four global business lines (GBLs), each having different leaders:[28][29]

Acquisitions

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Year Company Country Industry Acquisition cost
2002 Spectramind[30] India Business process outsourcing $83 million
2005 NewLogic[31] Austria Semiconductor design services €47 million
2006 cMango[32] United States Technology $20 million
2006 Enabler[33] Portugal Consulting €41 million
2007 Infocrossing[34] United States Infrastructure management services $600 million
2008 Citi Technology Services[35] United States Technology $127 million
2012 Promax Applications Group[36] Australia Analytics A$35 million
2014 Atco I-Tek[37] Canada Technology C$210 million
2015 Designit[38] Denmark Design consultancy €85 million
2015 Cellent[39] Germany Consulting €73 million
2016 HealthPlan Services[40] United States Healthcare technology $460 million
2016 Appirio[41] United States Cloud services $500 million
2019 International TechneGroup Inc (ITI)[42] United States Engineering services $45 million
2020 4C[43] Belgium Salesforce partner €68 million
2020 Rational Interaction[44] United States Digital customer experience consultancy Undisclosed
2021 Eximius Design[45] United States Semiconductor engineering services $80 million
2021 Capco[46] United States Technology management consultancy $1.45 billion
2021 Ampion[47] Australia Cybersecurity $117 million
2021 LeanSwift[48] United States Cloud transformation $21 million
2021 Edgile[49] United States Cybersecurity $230 million
2022 Convergence Acceleration Solutions (CAS)[50] United States Consulting $80 million
2022 Rizing Intermediate Holdings[51] United States SAP consultancy $540 million
2024 Aggne Global[52] United States Insurtech $66 million
2024 Applied Value Technologies (AVT)[53] United States Consulting $40 million

Listing and shareholding

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Wipro's logo from 1998 to 2017

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.[54]

As of 2025, the promoter group headed by Azim Premji held a 72.67% stake in the company, while the remaining shares were with public shareholders and an employee trust.[55] Since 2019, proceeds from the promoter group's 67% stake have been directed to the philanthropic activities of Azim Premji Foundation.[56][57]

Employees

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As of March 2024, Wipro had 234,054 employees from 146 nationalities, out of which 36.6% were women. It had 26 offices in India and 58 offices in overseas locations.[58]

List of CEOs since 1981:[59]

CEO Tenure
Ashok Narasimhan 1981–1988
Ashok Soota 1991–1999
Vivek Paul[60] 1999–2005
Azim Premji 2005–2008
Girish Paranjpe and Suresh Vaswani[61] 2008–2011
T. K. Kurien[62] 2011–2016
Abidali Neemuchwala[63][64] 2016–2020
Thierry Delaporte[65] 2020–2024
Srini Pallia[66] 2024–present

Sponsorships

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Criticism

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In February 2023, Wipro faced criticism for reducing the annual salary package offered to around 4,000 graduate hires by nearly 50%. Wipro stated that the original offers stood and the optional revised offers provided an opportunity to join the company immediately.[71][72]

References

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  1. ^ "Bloomberg Billionaires Index - Azim Premji". Bloomberg.com. Archived from the original on 29 May 2019. Retrieved 28 May 2019.
  2. ^ "Wipro adds 614 employees in Q4, 732 employees for the full year". Moneycontrol. 16 April 2025. Retrieved 25 July 2025.
  3. ^ "Audited Standalone and Consolidated financial results for the quarter and year ended March 31, 2025" (PDF). BSE. Wipro. Retrieved 16 April 2025.
  4. ^ "Fitch Affirms Wipro at 'A-'; Outlook Stable". www.fitchratings.com. Retrieved 28 September 2023.
  5. ^ "Wipro: From a vegetable oil maker to an IT major". NDTV Profit. Archived from the original on 17 October 2013. Retrieved 15 November 2013.
  6. ^ a b "Company History of Wipro". Money Control. Archived from the original on 13 November 2013. Retrieved 15 November 2013.
  7. ^ "About Wipro". wipro.com. Archived from the original on 22 September 2017. Retrieved 22 September 2017.
  8. ^ "Wipro acquires 45 per cent of Wipro Net from KPN Telecom". The Financial Express. Archived from the original on 22 May 2013.
  9. ^ "Wipro's early years". Rediff. 20 July 2006. Retrieved 16 July 2024.
  10. ^ "Indian IT's pioneering pivot". The Times of India. 9 April 2023. Retrieved 16 July 2024.
  11. ^ "Wipro: From vanaspati to IT leader". The Times of India. 16 April 2004. Retrieved 16 July 2024.
  12. ^ "The PC in India The Desktop Story". Dataquest. Retrieved 16 July 2024.
  13. ^ "Scaling New Highs". Business Standard. 17 August 1998. Retrieved 17 July 2024.
  14. ^ "Wipro software exports increase 49 per cent". Rediff. Retrieved 17 July 2024.
  15. ^ "Wipro becomes most valuable Indian company, Azim Premji the richest Indian ever". India Today. 6 March 2000. Retrieved 16 July 2024.
  16. ^ "India's $30 Billion Man". Forbes. Retrieved 16 July 2024.
  17. ^ "Wipro Joins Billion Dollar Club". 17 April 2004. Archived from the original on 21 April 2022.
  18. ^ "Wipro plans further expansion in Chennai". Business Standard. 31 January 2007. Retrieved 4 August 2024.
  19. ^ "Wipro Infotech launches supercomputers". The Economic Times. 12 September 2007. Retrieved 19 July 2024.
  20. ^ Chari, Sridhar K. (3 January 2011). "Wipro building India's fastest supercomputer for space agency". Mint. Retrieved 19 July 2024.
  21. ^ "Isro stakes claim to India's fastest supercomputer". Business Standard. 3 May 2011. Retrieved 19 July 2024.
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  24. ^ Sood, Varun (24 July 2014). "Wipro's digital business unit to be guided by Bhanumurthy Ballapuram". The Economic Times. Retrieved 17 July 2025.
  25. ^ Rao, Rukmini (26 February 2025). "Wipro Ventures secures $200 million in fresh funds, eyes bigger bets on startups". Fortune India. Retrieved 17 July 2025.
  26. ^ Hinchcliffe, Dion (16 August 2023). "Exploring Wipro Ventures: An Enterprise-Focused Tech Incubator". Constellation Research Inc. Retrieved 17 July 2025.
  27. ^ Dey, Victor (30 November 2021). "Wipro Staffed A Third Of Its Workforce to Cloud Business, Says CEO". Analytics India Magazine. Retrieved 25 July 2025.
  28. ^ "Wipro to realign its four global business lines starting April 1; here are the Big changes". The Times of India. 16 March 2025. Retrieved 25 July 2025.
  29. ^ "Integrated Annual Report 2024-25" (PDF). Business Standard. Wipro. Retrieved 25 July 2025.
  30. ^ "Wipro To Buy 90% In Spectramind". Business Standard. 20 July 2002. Retrieved 25 July 2025.
  31. ^ "Wipro buys NewLogic for $56mn". 19 December 2005. Retrieved 27 August 2024.
  32. ^ "Wipro acquires US-based cMango for $20mn". Business Standard India. 20 February 2006.
  33. ^ McCue, Andy (1 June 2006). "India's Wipro acquires Enabler". ZDNET. Retrieved 27 August 2024.
  34. ^ Ganesh, Venkatesh (7 August 2007). "Wipro buys Infocrossing in largest overseas acquisition". Hindustan Times. Retrieved 27 August 2024.
  35. ^ "Wipro buys Citi Tech for $127m". The Times of India. 24 December 2008. Retrieved 27 August 2024.
  36. ^ "Wipro to acquire Australia's Promax Applications Group for Rs 192 crore". The Economic Times.
  37. ^ "ATCO sells internal IT dept. for $210M, then outsources IT". Canadian Manufacturing. 18 July 2014. Retrieved 27 August 2024.
  38. ^ "Wipro to acquire Designit for €85 million". 9 July 2015.
  39. ^ Mendonca, Jochelle (3 December 2015). "Wipro agrees to buy German IT services company Cellent AG for $78 million". The Economic Times. Retrieved 27 August 2024.
  40. ^ Sen, Anirban (11 February 2016). "Wipro buys US-based HealthPlan Services for $460 million". The Economic Times. Retrieved 27 August 2024.
  41. ^ Darrow, Barb (20 October 2016). "Why IT Services Giant Wipro is Snapping up Appirio for $500 Million". Fortune.
  42. ^ "Wipro to acquire US-based ITI for around Rs 312 crore". The New Indian Express. 5 June 2019. Retrieved 27 August 2024.
  43. ^ Baruah, Ayushman (23 July 2020). "Wipro to acquire Belgium-based 4C for 68 million euros". mint. Retrieved 14 February 2025.
  44. ^ "Wipro Digital acquires CX consulting firm Rational Interaction". www.consulting.us. 24 February 2020. Archived from the original on 25 February 2020. Retrieved 25 February 2020.
  45. ^ Doshi, Ankit (15 October 2020). "Wipro to acquire American engineering services firm Eximius for $80 mn". VCCircle. Retrieved 27 August 2024.
  46. ^ "India's Wipro to buy Capco for $1.45 billion – TechCrunch". TechCrunch. Archived from the original on 4 March 2021. Retrieved 4 March 2021.
  47. ^ "Wipro Agrees To Buy Australian Cybersecurity Provider; Stock Gains". 1 April 2021. Archived from the original on 17 April 2021. Retrieved 18 August 2021.
  48. ^ "Wipro to acquire LeanSwift Solutions for $21 million". Financial Express. 17 December 2021. Retrieved 27 August 2024.
  49. ^ "Wipro to acquire cybersecurity consulting provider Edgile". Mint. 20 December 2021. Retrieved 27 August 2024.
  50. ^ "Wipro acquires consulting firm Convergence Acceleration Solutions for $80 million". Moneycontrol. 12 April 2022. Retrieved 12 January 2024.
  51. ^ Ishwarbharath, Sai (26 April 2022). "Wipro to acquire SAP Consulting firm Rizing for $540 million". The Economic Times. Retrieved 12 January 2024.
  52. ^ "Wipro to acquire US-based insurtech company Aggne Global for $66 million". Moneycontrol. 13 February 2024. Retrieved 13 February 2024.
  53. ^ "Wipro acquires IT consulting firm AVT for $40 mn". Techcircle. 17 December 2024. Retrieved 14 February 2025.
  54. ^ "Wipro IPO rises 19 percent". CNN Money. 19 October 2000. Retrieved 4 August 2024.
  55. ^ "Shareholding Pattern 2025" (PDF). Wipro. Retrieved 17 July 2025.
  56. ^ "Azim Premji commits Rs 1.45 lakh crore, 67 per cent Wipro stake to charity". India Today. 13 March 2019. Retrieved 25 July 2025.
  57. ^ Sood, Varun (19 March 2019). "Azim Premji trusts get a share of his wealth, but not voting rights". Mint. Retrieved 25 July 2025.
  58. ^ "Integrated Annual Report 2023-24" (PDF). www.wipro.com. Retrieved 20 August 2024.
  59. ^ "Changes stir hopes of stability at Wipro". Business Standard. 7 April 2015. Retrieved 16 July 2024.
  60. ^ Wright, Robert (6 August 2005). "Vivek Paul Leaves Wipro". CRN.
  61. ^ "Wipro's ex-CEOs Paranjpe & Vaswani get Rs 7 crore each as severance amount". The Economic Times. 24 February 2011. ISSN 0013-0389. Retrieved 9 May 2025.
  62. ^ "Wipro appoints T K Kurien as CEO". Business Today. 21 January 2011. Retrieved 28 April 2025.
  63. ^ "Wipro Names Abidali Neemuchwala As Its New CEO". Forbes India. Retrieved 28 April 2025.
  64. ^ Mendonca, Jochelle (1 February 2020). "Wipro CEO Abidali Neemuchwala steps down". The Economic Times. ISSN 0013-0389. Retrieved 28 April 2025.
  65. ^ Suresh, Haripriya; Ishwarbharath B, Sai (6 April 2024). "Wipro CEO Delaporte resigns; to be replaced by veteran insider". Reuters. Retrieved 28 April 2025.
  66. ^ "Wipro Ropes In Srini Pallia As CEO: Who Is He?". BW Marketing World. Retrieved 17 April 2025.
  67. ^ "Infy, Wipro to part-fund Bangalore expressway". Rediff. Retrieved 18 July 2024.
  68. ^ "Wipro to be title sponsor of San Francisco Marathon". Business Standard. 18 April 2012. Retrieved 18 July 2024.
  69. ^ Connolly, Eoin (18 September 2012). "Wipro to title sponsor first ever Chennai Marathon". SportsPro. Retrieved 18 July 2024.
  70. ^ "Wipro's fitness push: Tech giant all set to sponsor Bengaluru Marathon". Moneycontrol. 25 May 2023. Retrieved 18 July 2024.
  71. ^ ""Unjust, Unacceptable": Anger After Wipro Cuts Salary Offers To Freshers". NDTV. Retrieved 20 August 2024.
  72. ^ "Wipro: Pay cut shock for new hires at India IT giant". BBC. Retrieved 20 August 2024.
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