Wipro Inks Definitive Agreement To Acquire UpTo 9.95% Equity Stake in FPEL By CIOTechOutlook Team

Wipro Inks Definitive Agreement To Acquire UpTo 9.95% Equity Stake in FPEL

CIOTechOutlook Team | Saturday, 02 September 2023, 02:05 IST

Wipro said that it has inked a formal agreement to subscribe for equity share capital in FPEL Ujwal Private Limited for Rs 6.3 crore. The acquisition is scheduled to close by May 31, 2024. According to a letter to exchanges, the share acquisition will increase the amount of renewable energy used by Wipro operations in Karnataka.

"This project is expected to help us move closer to our goal of becoming net zero by 2040 and 100% renewable energy for purchased electricity by 2030," the company said in a statement.

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