Wipro Establishes US Subsidiary for IT Investments

New Delhi, Oct 4 (PTI) IT major Wipro on Friday said it has incorporated a subsidiary to invest in IT consultancy and services business in the United States.

The wholly-owned subsidiary came into effect from September 30, 2024, according to a regulatory filing.

"...it is informed that Wipro, Inc. has been incorporated as a wholly-owned subsidiary of Wipro Limited (the “Company”) with effect from September 30, 2024. The Company received intimation to this effect on October 4, 2024...

"...To explore new business opportunities and investments in the areas of information technology consulting and services.," the filing said.

Investment in the US subsidiary is by way of subscription to share capital of the entity, it said.

Shares of Wipro settled at Rs 533.50 apiece on BSE on Friday, up 0.68 per cent from the previous close.