Wipro Ltd.

Wipro has received an approval for demerger of Wipro Consumer Care & Lighting (including Furniture business), Wipro Infrastructure Engineering (Hydraulics & Water businesses), and Medical Diagnostic Product & Services business (through its strategic joint venture), into a separate company to be named Wipro Enterprises. Wipro will remain a publicly listed company that will focus exclusively on information technology. Wipro Enterprises will be an unlisted company. The board at its meeting held on November 1, 2012 has approved the same.

In fiscal year 2011-12, the IT business contributed to 86% of revenue and 94% of operating profit of Wipro. The demerger is anticipated to provide fresh impetus for both Wipro and Wipro Enterprises to pursue their individual growth strategies. The demerger is also expected to improve the competitiveness in their respective markets.

The Board of Wipro will remain unchanged, and the demerger will have no impact on the management structure of Wipro. There will be no change in the leadership of any of Wipro Enterprises’ constituent businesses. Wipro brand will be jointly owned by both the companies.