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Wipro founder Azim Premji has ruled out plans to take Wipro Enterprises Limited (WEL) public.
At an extraordinary general meeting in Bengaluru, Premji said investors can remain invested in WEL but as the group's consumer business has a different structure, it is best to keep it private.
This development comes on the back of some minority shareholders seeking a nod to take WEL public. A company spokesperson said in a statement: “Some shareholders who were present at the EGM expressed that they possess a sentimental attachment to the company and would like to continue holding the stock.”
In November 2012, Wipro hived off its consumer care and lighting, medical diagnostic products and services and infrastructure engineering into a separate company called Wipro Enterprises Ltd which is aimed at making Wipro a pure-play IT company.
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