Wipro jumps after committing to make $200 million fresh investment in venture arm to support startups
Wipro is currently trading at Rs 294.25, up by 2.95 points or 1.01% from its previous closing of Rs 291.30 on the BSE.
The scrip opened at Rs 294.75 and has touched a high and low of Rs 295.80 and Rs 291.50 respectively. So far 206325 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 2 has touched a 52-week high of Rs 324.55 on 23-Jan-2025 and a 52-week low of Rs 208.40 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs 314.30 and Rs 290.15 respectively. The current market cap of the company is Rs 308230.12 crore.
The promoters holding in the company stood at 72.75%, while Institutions and Non-Institutions held 16.02% and 8.73% respectively.
Wipro is committing $200 million fresh Investment in its venture arm, Wipro Ventures, in its latest round of funding. This is the fourth round of funding raised by Wipro Ventures since its inception 10 years ago and is aimed at accelerating the company’s investments in early- to mid-stage startups.
Wipro Ventures was founded in 2015 to identify and invest in high-potential early-stage startups that are at the forefront of technological innovation and that allow Wipro to deliver differentiated value to clients. The Wipro Ventures team connects Wipro and its clients to a global ecosystem of startups working on disruptive technologies, enabling Wipro’s clients to access latest innovations, while providing startups with access to a global network of enterprise customers.
In its 10 years of operation, Wipro Ventures has invested in 37 startups in areas such as artificial intelligence, data & analytics, cybersecurity, and cloud infrastructure, deployed solutions across 250+ Wipro customers globally and had 12 successful exits. In addition to making direct equity investments, Wipro Ventures has also invested in several early-stage, enterprise-focused and cybersecurity-themed venture funds in India, the US, and Israel.
Wipro is a leading global information technology, consulting and business process services company.
