Wipro to acquire up to 9.95% equity stake in FPEL

Wipro said on Friday that the company has signed a definitive agreement to subscribe for the equity share capital in FPEL Ujwal Private Limited for a value of Rs 6.3 crore. The transaction is expected to be completed before May 31, 2024.

The stake acquisition will enhance the proportion of usage of renewable energy for Wipro offices in Karnataka, said the company in a note to exchanges.