Wipro Limited (formerly, Western India Palm Refined Oils Limited) is an Indian

multinational corporation A multinational company (MNC), also referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation or a stateless corporation with subtle but contrasting senses, i ...

that provides

information technology Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of Data (computing), data . and information. IT forms part of information and communications technology (ICT). An information te ...

consulting A consultant (from la, consultare "to deliberate") is a professional (also known as ''expert'', ''specialist'', see variations of meaning below) who provides advice and other purposeful activities in an area of specialization. Consulting servic ...

and

business process A business process, business method or business function is a collection of related, structured activities or tasks by people or equipment in which a specific sequence produces a service or product (serves a particular business goal) for a parti ...

services. Thierry Delaporte is serving as CEO and managing director of Wipro since July 2020. Wipro's capabilities range across

cloud computing Cloud computing is the on-demand availability of computer system resources, especially data storage ( cloud storage) and computing power, without direct active management by the user. Large clouds often have functions distributed over mu ...

cyber security Computer security, cybersecurity (cyber security), or information technology security (IT security) is the protection of computer systems and networks from attack by malicious actors that may result in unauthorized information disclosure, the ...

, digital transformation,

artificial intelligence Artificial intelligence (AI) is intelligence—perceiving, synthesizing, and inferring information—demonstrated by machines, as opposed to intelligence displayed by animals and humans. Example tasks in which this is done include speech r ...

robotics Robotics is an interdisciplinary branch of computer science and engineering. Robotics involves design, construction, operation, and use of robots. The goal of robotics is to design machines that can help and assist humans. Robotics integrate ...

data analytics Analytics is the systematic computational analysis of data or statistics. It is used for the discovery, interpretation, and communication of meaningful patterns in data. It also entails applying data patterns toward effective decision-making. It ...

, and other technology consulting services to customers in 167 countries.

History of Wipro

Early years

The company was incorporated on 29 December 1945 in Amalner, India, by Mohamed Premji as Western India Vegetable Products Limited, later abbreviated to Wipro. It was initially set up as a manufacturer of vegetable and refined oils under the

trade name A trade name, trading name, or business name, is a pseudonym used by companies that do not operate under their registered company name. The term for this type of alternative name is a "fictitious" business name. Registering the fictitious name w ...

s of Kisan, Sunflower, and Camel. In 1966, after Mohamed Premji's death, his son

Azim Premji Azim Hashim Premji (born 24 July 1945) is an Indian businessman, investor, engineer, and philanthropist, who was the chairman of Wipro Limited. Premji remains a non-executive member of the board and founder chairman. He is informally known as ...

took over Wipro as its chairman at the age of 21.

Shift to IT Industry

During the 1970s and 1980s, the company shifted its focus to new opportunities in the IT and computing industry, which was at a nascent stage in India at the time. On 7 June 1977, the name of the company changed from Western India Vegetable Products Limited, to Wipro Products Limited. In 1982, the name was changed again, from Wipro Products Limited to Wipro Limited. In 1999, Wipro was listed on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...

. In 2004, Wipro became the second Indian IT company to earn $1 billion in annual revenue. In 2012, Wipro demerged its non-IT businesses into a separate company called

Wipro Enterprises Wipro Enterprises Private Limited (stylized as Wipro Enterprises) is a privately held Indian company whose main activities are in the fast-moving consumer goods, lighting, hydraulic cylinders, industrial automation, 3D printing and aerospa ...

. Prior to this demerger, these businesses, mainly in the consumer care, lighting, furniture, hydraulics, water treatment, and medical diagnostics, contributed about 10% of Wipro's total revenues. In August 2018, Wipro paid US$75m to National Grid US as a settlement for a botched SAP implementation that an 2014 audit estimated could cost the company US$1 billion. Wipro had been hired as systems integrator in 2010, but errors in the rollout, intended to replace an Oracle system, caused serious losses and reputational damage. In March 2020, Hedera announced that Wipro would be joining their Governing Council, providing decentralized governance to its 

hashgraph Hashgraph is a distributed ledger technology that has been described as an alternative to blockchains. The hashgraph technology is currently patented, is used by the public ledger Hedera, and there is a grant to implement the patent as a result ...

 distributed ledger technology.

Notable acquisitions

In 2006, Wipro acquired

California California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the m ...

-based technology company cMango in an all cash deal. In 2012, Wipro acquired Australian analytics company, Promax Applications Group for A$35 million in an all cash deal. In 2015, Wipro acquired Denmark-based design consultancy Designit for €85 million. In 2016, Wipro acquired cloud services consultancy

Appirio Appirio, a Wipro company, was an information technology consulting company headquartered in Indianapolis, Indiana (United States) that offered technology and professional services to companies wishing to adopt public cloud applications. This inc ...

for $500M. In April 2019, Wipro acquired Filipino personal care company Splash Corporation. In February 2020, Wipro acquired Rational Interaction, a Seattle-based digital customer experience consultancy. In March 2021, Wipro acquired Capco, a 22-year-old global technology and management consultancy specializing in driving digital transformation in the financial services industry. The deal was completed in April. Wipro has signed an agreement to acquire Ampion for a cash consideration of $117 million, according to an exchange filing. In December 2021, Wipro signed a definitive agreement to acquire LeanSwift, a system integrator of Infor products for customers across the Americas and Europe. The acquisition is subject to customary closing conditions and is expected to close before the end of the quarter ending March 31, 2022, Wipro stated in a BSE filing. In April 2022, Wipro signed a definitive agreement to acquire the Stamford-headquartered Systems Applications and Products (SAP) consulting company, Rizing Intermediate Holdings.

Sustainability

Wipro has committed to achieving Net Zero emissions by 2040, with an intermittent goal of reducing emissions 55% by 2030. In October 2021, Wipro's Net Zero plans were certified by the Science-based Targets Initiative.

Listing and shareholding

Listing: Wipro's initial public offering was in 1946. Wipro's equity shares are listed on

Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange i ...

, where it is a constituent of the

BSE SENSEX The BSE SENSEX (also known as the S&P Bombay Stock Exchange Sensitive Index or simply SENSEX) is a free-float market-weighted stock market index of 30 well-established and financially sound companies listed on the Bombay Stock Exchange. The 30 ...

index, and the National Stock Exchange of India where it is a constituent of the S&P CNX Nifty. The

American Depositary Shares An American depositary receipt (ADR, and sometimes spelled ''depository'') is a negotiable security that represents securities of a foreign company and allows that company's shares to trade in the U.S. financial markets. Shares of many non-U.S ...

of the company are listed at the

NYSE The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its liste ...

since October 2000. Shareholding: The table provides the share holding pattern as of 31 March 2022.

Employees

On 6 July 2020, Thierry Delaporte took over from Abidali Neemuchwala as the new CEO of Wipro. Abidali Neemuchwala was appointed as Wipro's CEO after T. K. Kurien stepped down in early 2016. Neemuchwala, who had been group president and CEO from April 2015, was appointed CEO with effect from 1 February 2016. In 2022, Wipro fired 300 employees who were moonlighting for competitors.

Awards and recognitions

* It received the National award for excellence in

Corporate Governance Corporate governance is defined, described or delineated in diverse ways, depending on the writer's purpose. Writers focused on a disciplinary interest or context (such as accounting, finance, law, or management) often adopt narrow definitions ...

from the

Institute of Company Secretaries of India The Institute of Company Secretaries of India (ICSI) is a premier national professional body in India under the ownership of Ministry of Corporate Affairs, Government of India with the objective of promoting, regulating and developing the prof ...

during the year 2004. * Wipro honored as 2010 Microsoft Country Partner of the Year Award for India. * Wipro received the '

NASSCOM The National Association of Software and Service Companies (NASSCOM) is an Indian non-governmental trade association and advocacy group, focused mainly on the technology industry of India. Established in 1988, NASSCOM is a non-profit organis ...

Corporate Award for Excellence in

Diversity Diversity, diversify, or diverse may refer to: Business *Diversity (business), the inclusion of people of different identities (ethnicity, gender, age) in the workforce *Diversity marketing, marketing communication targeting diverse customers * ...

and Inclusion, 2012', in the category 'Most Effective Implementation of Practices & Technology for Persons with Disabilities'. * Wipro was ranked second in the Newsweek 2012 Global 500 Green companies. * In 2014, Wipro was ranked 52nd among India's most trusted brands according to the Brand Trust Report, a study conducted by Trust Research Advisory. * Wipro won seven awards, including Best Managed IT Services and Best System Integrator in the CIO Choice Awards 2015, India * Wipro won Gold Award for ‘Integrated Security Assurance Service (iSAS)’ under the ‘Vulnerability Assessment, Remediation and Management’ category of the 11th Annual 2015 Info Security PG's Global Excellence Awards. * In May 2016, it was ranked 755th on the Forbes Global 2000 list. * In March 2017, Wipro was recognized as one of the world's most ethical companies by US-based

Ethisphere Institute The Ethisphere Institute is a for-profit company that defines and measures corporate ethical standards, recognizes companies that excel, and promotes best practices in corporate ethics. The company is located in Scottsdale, Arizona. The compa ...

for the sixth consecutive year. * In 2018, Wipro received ATD's Best of the BEST Award. * In 2021 Wipro awarded boomi worldwide spotlight award

References

External links

* * {{Authority control Consulting firms established in 1945 Business services companies established in 1945 Conglomerate companies established in 1945 Software companies of India Outsourcing companies Personal care companies Business process outsourcing companies of India Companies based in Bangalore International information technology consulting firms Information technology consulting firms of India NIFTY 50 Business process outsourcing companies Outsourcing in India Computer companies of India Information technology companies of Bhubaneswar Indian brands Indian companies established in 1945 Companies based in Karnataka Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange Companies listed on the New York Stock Exchange