New Delhi: IT services major Wipro has said that it has exited its joint venture WAISL (formerly Wipro Airport IT Services Limited) by selling its remaining 11 percent shareholding to Antariksh Softtech.
“WAISL, which was originally a Joint Venture (JV) between Wipro Limited (74 percent) and Delhi International Airport Limited (DIAL) (26 percent), provides various IT Services at Indira Gandhi International Airport, New Delhi,” the company said in a BSE filing.
The sale was completed on June 26, 2019 for a consideration of Rs 55 lakh, Wipro added.
In April 2018, Wipro Limited sold 63 percent stake in WAISL to Antariksh Softtech Private Limited (Antariksh) as part of divesture of the subsidiary. Consequent to the aforesaid sale, Wipro Limited held 11 percent stake in WAISL, with DIAL (26 percent) and Antariksh (63 percent) being the other JV partners.
“The parties have now mutually agreed to sell the remaining stake in WAISL to Antariksh. Consequently, Wipro Limited has exited the JV by selling the remaining 11 percent stake in WAISL to Antariksh and the JV agreement has been terminated,” Wipro added.
The filing said that Antariksh Softtech was incorporated in October 2006 and does not belong to the promoter/promoter group.