Hotline: 1800 102 2007
X
Search Business Opportunities
Apr, 07 2018

Wipro sells 63% stake in airport IT services to Antariksh Softtech

Wipro Airport IT will continue to outsource IT services of the airport to Wipro as per the existing arrangement.

The third largest software services of the country, Wipro India's has confirmed to sell 63% of its stake in Wipro Airport IT to Antariksh Softtech in a Rs 3.15 crore deal.

Wipro Airport IT Services Ltd is a joint venture (JV) between Wipro (74%) and Delhi International Airport Ltd or DIAL that held 26% stake. It provides various IT services at the Indira Gandhi International Airport in New Delhi.

Wipro in a regulatory filing said, "Wipro Ltd has sold 63% of its stake in Wipro Airport IT to Antariksh Softtech as part of divestiture of the subsidiary. DIAL is considering expansion of the airport and procuring more assets under the JV.”

“The parties have mutually agreed to introduce a third party (Antariksh Softtech) into the JV, with reduction of stake by Wipro. Consequent to the sale, Wipro now holds 11% stake in Wipro Airport IT," it said.

Wipro Airport IT will continue to outsource IT services of the airport to Wipro as per the existing arrangement. The consideration received from the sale is Rs 3.15 crore and the deal was completed on April 5, it added.

Comment
image
Related opportunities
  • Preschools
    About Us: Education is the backbone of any country and we..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 2500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Others Dealers And Distributors
    About us: JD Shopping Network was incepted in the year 2015 in..
    Locations looking for expansion Madhya pradesh
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size
    Space required 200
    Franchise Outlets -NA-
    Franchise Type MultiUnit
    Headquater Indore Madhya pradesh
  • Professional Education Colleges
    About Us: Lakhotiacollege of design has entered into a collaboration with..
    Locations looking for expansion Delhi
    Establishment year 1991
    Franchising Launch Date 2019
    Investment size Rs. 20lac - 30lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Quick Service Restaurants
    About Us: The inception of the company begin with a humble..
    Locations looking for expansion Andhra pradesh
    Establishment year 2010
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater hyderabad Andhra pradesh
Insta-Subscribe to
Entrepreneur
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities