WIPRO Sells Drivestream India Stake—Restructuring with Precision and Purpose

WIPRO Limited announced today the signing of an agreement to sell its entire stake in Drivestream India Private Limited as part of a corporate restructuring effort. The transaction involves transferring 100 equity shares and 2,67,500 optionally convertible preference shares—soon to be converted into 3,50,776 equity shares in total—to Drivestream Inc., a Virginia-based associate company of Wipro's wholly-owned subsidiary, Wipro LLC. The sale consideration is INR 18.03 crores. The deal, classified as a related party transaction, is being executed at arm’s length, ensuring fairness and compliance. The sale is expected to complete on or before December 31, 2025. Notably, Drivestream India contributed revenue of INR 58.8 crores and held a net worth of INR 40.62 crores as of March 31, 2025, though these figures are stated as NIL percentages to Wipro’s overall consolidated numbers. This strategic divestment reflects WIPRO's focus on optimizing its subsidiary portfolio to enhance operational efficiency and shareholder value.

 

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Sources: BSE Filings, SEBI Regulations, WIPRO Limited official disclosures