The Indian IT Giant Secures Multi-Year Deal with Olam Group; Shares Rise Over 2.5% in Early Trade

In a significant strategic move, Wipro (through its subsidiaries) has announced the acquisition of 100 per cent shareholding in Mindsprint Pte. Ltd. and its subsidiaries, marking a key milestone in its global expansion and transformation capabilities. The definitive agreement was signed on April 5, 2026, and the transaction is expected to be completed by June 30, 2026, subject to customary closing adjustments.

The acquisition is closely tied to a major multi-year engagement secured with Olam Group, a global food and agri-business leader headquartered in Singapore. The deal spans eight years and is expected to exceed USD 1 billion in total contract value, with a committed spend of USD 800 million. This positions the engagement as one of the more substantial long-term contracts in the IT services sector.

As part of the agreement, Wipro will deliver an end-to-end transformation program for Olam Group through a consulting-led and AI-powered approach. Leveraging its suite of advanced digital capabilities, including its integrated AI platforms and solutions, the company aims to enhance operational efficiency and drive sustainable competitive advantage for the client.

The acquisition of Mindsprint, which serves as Olam Group’s IT services arm, is a strategic extension of this engagement. By integrating Mindsprint’s capabilities, Wipro is expected to strengthen its delivery framework, deepen domain expertise, and ensure seamless execution of the transformation roadmap.

The transaction will be completed through a cash consideration of USD 375 million, subject to standard closing adjustments. Importantly, the deal does not fall under related party transactions, and there is no involvement of promoter or group company interests in the acquired entity.

Market reaction to the announcement was positive, with Wipro’s shares rising over 2.5 per cent during Intraday trading. Wipro shares were trading at Rs 200.13 as of 12:02 IST on April 6, 2026, up Rs 5.22 reflecting a gain of 2.68 per cent.

About Wipro Ltd

Wipro is a leading technology services and consulting company that uses AI and digital solutions to help businesses achieve their goals. The company offers services in consulting, design, engineering, and operations to solve complex digital transformation challenges.

Wipro Ltd Share Price Ltd

Wipro’s share opened at Rs 197.00 and saw a high of Rs 201.18 during the trading session. The stock touched a low of Rs 196.11 before settling higher than its previous close of Rs 194.91. Wipro’s stock has seen a decline of 26.25 per cent year-to-date. Over the past one year, the stock has fallen by 19.95 per cent, reflecting ongoing challenges in the sector and market sentiment.

Disclaimer: The article is for informational purposes only and not investment advice.