Wipro Ltd. has received approval from the National Company Law Tribunal (NCLT) to merge five wholly owned subsidiaries with itself, aiming to enhance operational efficiency and reduce compliance complexities. The move aligns with Wipro’s strategy to consolidate business operations and optimize its legal entity structure.
Key Highlights:
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NCLT approves merger of five Wipro subsidiaries, including Wipro HR Services and Wipro Overseas IT Services.
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Amalgamation expected to reduce overhead costs and improve synergy across business units.
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Wipro aims to streamline operations and enhance financial efficiency.
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No new shares will be issued, ensuring no change in Wipro’s shareholding pattern.
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Regulatory approvals completed, paving the way for seamless integration.
This strategic restructuring reinforces Wipro’s commitment to operational excellence, positioning it for long-term growth.
Source: Business Today | Economic Times | Livemint