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Wipro sells 63% stake in airport IT services JV to Antariksh Softtech

Wipro Airport IT will continue to outsource IT services of the airport to Wipro as per the existing arrangement

Press Trust of India  |  New Delhi 

Wipro
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India's third largest firm today said it has sold 63 per cent of its stake in Airport IT to Antariksh Softtech in a Rs 31.5 million deal.

Airport IT Services Ltd is a joint venture (JV) between Wipro (74 per cent) and or DIAL that held 26 per cent stake. It provides various IT services at the in

"has sold 63 per cent of its stake in to Antariksh Softtech as part of divesture of the subsidiary. DIAL is considering expansion of the airport and procuring more assets under the JV," Wipro said in a regulatory filing.

It added that the parties have mutually agreed to introduce a third party (Antariksh Softtech) into the JV, with reduction of stake by Wipro.

"Consequent to the sale, Wipro now holds 11 per cent stake in Wipro Airport IT," it said.

will continue to outsource IT services of the airport to Wipro as per the existing arrangement.

The consideration received from the sale is Rs 3.15 crore and the deal was completed on April 5, it added.

First Published: Fri, April 06 2018. 22:53 IST
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