Wipro has said that it plans to amalgamate four of its business entities into Wipro Limited, the parent company. In a notification to the exchanges, India’s third largest software exporter said that Wipro Technologies Austria, Wipro Information Technology Austria, New Logic Technologies SARL and Appirio India Cloud Solutions will be amalgamated with Wipro Limited.
n the process of amalgamation, a completely new entity is formed to house the combined assets and liabilities of all the companies. This will come up before the upcoming shareholders’ meeting. The announcement came after market hours and Wipro shares closed flat at ₹332.