Wipro acquired 13.3% stake in Encore Theme

25 Jan 2022 , 04:39 PM

Wipro Ltd. has informed the exchanges and shareholders that the company has acquired a 13.3% equity stake in Encore Theme Technologies Private Limited (Encore Theme).

Wipro has already acquired an 83.4% stake in Encore Theme in December 2020. With this acquisition, the company’s total stake in Encore theme become 96.7%. The company will acquire the remaining 3.3% stake subject to and after receipt of certain regulatory approvals.

Encore Theme Technologies Pvt Ltd., headquartered in Chennai, now becomes a significant arm of Wipro Ltd. that provides IT solutions for the banking and financial services segment. The company was founded in 2006 and was substantially acquired by Wipro in 2020.

Wipro Ltd. closed at Rs 563.50 against its previous closing price of Rs 572.75, down by Rs 9.25 or 1.62%. It touched an intraday high and low of Rs 572 and Rs 550.70 respectively.