Wipro Limited has informed the Exchange regarding Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Wipro has signed an agreement on November 3, 2025 to sell its entire stake in Drivestream India Private Limited to Drivestream Inc., a US-based corporation registered in Virginia and an associate of Wipro LLC (Wipro's wholly-owned US subsidiary). The deal involves transferring 100 equity shares and 2,67,500 optionally convertible preference shares (to be converted to equity, totaling 3,50,776 shares) for a consideration of INR 18.03 crores, with completion expected by December 31, 2025. The transaction is part of an internal restructuring plan and qualifies as a related party transaction conducted at arm's length. Drivestream India contributed NIL% to Wipro's consolidated revenue (₹58.8 crores standalone) and net worth (₹40.62 crores) as of March 31, 2025.
This is a small, immaterial transaction for shareholders — the subsidiary contributes essentially nothing to Wipro's consolidated revenue or net worth. The sale is essentially an internal restructuring with a related party at arm's length and is unlikely to have any meaningful impact on Wipro's stock price or financial performance.