Wipro Limited has announced an internal restructuring of its step-down subsidiaries in the United States, aimed at rationalizing and simplifying the overall group structure. The IT services major informed stock exchanges about this development on April 1, 2026, following regulatory compliance requirements.

Restructuring Details

The restructuring involves a complete transfer of shareholding between Wipro's step-down subsidiaries. Cardinal US Holdings, Inc. has transferred its entire shareholding in Capco Consulting Services LLC to The Capital Markets Company, LLC, with the transaction becoming effective on March 30, 2026 (Eastern Time).

Impact and Rationale

The transaction has been undertaken with the specific intention to rationalize and simplify the overall group structure. Following the completion of this internal restructuring, The Capital Markets Company, LLC now holds 100% ownership of Capco Consulting Services LLC.

The company has indicated that the restructuring will have both quantitative and qualitative effects, primarily focused on the rationalization and simplification of the overall group structure. Importantly, Wipro has disclosed that there are no specific benefits to the promoter, promoter group, or group companies from this proposed restructuring.

Regulatory Compliance

Wipro has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has informed all relevant stock exchanges where its shares are listed, including BSE Limited, National Stock Exchange of India Limited, and NYSE New York.

The intimation was signed by M Sanauilla Khan, Company Secretary, and submitted to the exchanges on April 1, 2026. This internal restructuring represents part of Wipro's ongoing efforts to optimize its subsidiary structure and operational efficiency in international markets.

Wipro Limited has completed two separate merger transactions involving four of its step-down subsidiaries in the United States, marking a strategic consolidation within its organizational structure. The IT services major announced that both mergers became effective on March 30-31, 2026, as part of its ongoing efforts to rationalize and consolidate the overall group structure.

Transaction Details

The mergers involve four entities operating in IT services, consulting, and software support services domains. All companies were step-down subsidiaries of Wipro Limited before the consolidation.

First Merger - March 30, 2026

Second Merger - March 31, 2026

Business Operations and Rationale

The merged entities operate across complementary business verticals. Capco RISC Consulting LLC and The Capital Markets Company, LLC are engaged in providing IT services, consulting, business process services, and IT products globally. Cardinal US Holdings, Inc. focuses on IT services, consulting, and business process services, while Wipro IT Services, LLC specializes in software development services.

Both merger transactions have been undertaken with the specific intention to rationalize and consolidate the overall group structure, according to the company's regulatory filing submitted on April 1, 2026.

Regulatory Compliance

Wipro Limited filed the intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that both transactions do not fall within the scope of related party transactions and therefore do not require arm's length pricing considerations.

Impact Assessment

The merger structures indicate several key aspects for both transactions:

• No cash consideration involved in either transaction
• No share exchange ratio applicable
• No impact on the shareholding pattern of the listed entity
• Transactions classified as internal restructuring for operational efficiency

The completion of these mergers represents Wipro's ongoing efforts to streamline its subsidiary structure and optimize operational efficiency within its global consulting services and IT solutions portfolio.