Wipro Exits Airport IT Services Joint Venture, Sells 11% Stake To Antariksh Softtech
Wipro Airport IT Services was a joint venture of Wipro and Delhi Airport, which continues to hold 26 percent stake.
Wipro Ltd. has exited its joint venture Wipro Airport IT Services Ltd. by selling its 11 percent shareholding to Antariksh Softtech Pvt. Ltd. for Rs 55 lakh, the software services firm said on Thursday. Wipro had in April 2018 sold 63 percent of its stake in WAISL to Antariksh Softtech in a Rs 3.15 crore deal.
WAISL was a joint venture of Wipro (74 percent) and Delhi International Airport Ltd., which held 26 percent stake. It provides various IT services at the Indira Gandhi International Airport in Delhi.
After the April stake sale, Wipro held 11 percent stake in WAISL, Delhi Airport had 26 percent and Antariksh 63 percent.
“The parties have now mutually agreed to sell the remaining stake in WAISL to Antariksh. Consequently, Wipro Ltd. has exited the JV by selling the remaining 11 percent stake in WAISL to Antariksh and the JV agreement has been terminated,” Wipro said in a BSE filing.
The sale was completed on June 26, 2019 for a consideration of Rs 55 lakh, it added.
The filing said that Antariksh Softtech was incorporated in October 2006.
Antariksh Softtech, along with its group companies, is engaged in the business of providing technology solutions and other information and communication services.