Wipro is an Indian company specializing in Information Technology, Consultants, and business process services and solutions. Today, let us take you through the captivating journey of Wipro from its inception to a ₹750 Billion company.
The inception began with a 21-year-old boy at the helm of things. Mohamedhusain Hasham Premji took over his father’s grain trade business and converted it into a manufacturing unit. The journey began with an oil mill in the Indian Heartland and named it Western India Vegetable Products (WIVP).
Soon after the inception, Mohamedhusain’s wife, Dr. Gulbanoo Premji, took over the Chairman’s position in the company and helped establish Children’s Orthopedic Hospital in Mumbai.
Thirty years later, after the untimely death of Mohmedhusain Premji, his son, who was then studying at Stanford was called to take over the management of the family-owned business.
The beginning of a new era with goal of building a brand-oriented business from its initial vegetable oil maker changed the entire game for the Premjis.
WIVP was on a surge, making them move from a cramped office to a new office in the heart of Bombay. Soon after, the company registered itself as Wipro.
In August 1979, around the time when HCL and Apple were a year ahead in making 8C computers, Wipro hired its first members of the Infotech division and applied for a license to develop, manufacture, and market mini-computers along with its peers.
About ten years later, Wipro became a diversified manufacturer of computer systems and at the turn of the decade, they made an alliance with General Electronics in the healthcare sector. This started the transformation in Wipro’s story.
During the dot-com boom and evolution in the technology markets around the globe, Wipro stood firm and dived deep into IT services and partnerships with leading technology companies.
Later, they shifted their headquarters to Bangalore, where their headquarters remains to date.
The business grew and the company clocked one billion dollars. This in itself was a big achievement but to add to this, they also got listed on the New York Stock Exchange.
Wipro was the first company that dealt with software technology and services in India to get ISO certification for complying with the international standards for Environmental Management Systems (EMS) in three major software development and technology centers situated in Bangalore.
Later in 2005, Wipro acquired mPower Software services for $28 million and Unza in 2007. This expanded the company to be self-reliant in the IT industry.
Post many other great acquisitions, they were ranked number one in the Asian Sustainability Rating of Indian companies. Wipro also stamped its position in the Forbes 2000 list.
Wipro has been listed on the Bombay Stock Exchange for about 30 years now. It got listed on the National Stock Exchange a year later towards the end of the year.
Today, even though Wipro continues to lag behind some of its competitors, it remains one of the leading IT companies in India.
Wipro Share Price History
| Year | Share Price | Gain / Loss |
|---|---|---|
| 1993 | ₹ 0.44 | |
| 1994 | ₹ 1.10 | + 150.0% |
| 1995 | ₹ 1.26 | + 14.5% |
| 1996 | ₹ 1.00 | - 20.6% |
| 1997 | ₹ 4.17 | + 317.0% |
| 1998 | ₹ 16.16 | + 287.5% |
| 1999 | ₹ 114.28 | + 607.2% |
| 2000 | ₹ 105.74 | - 7.5% |
| 2001 | ₹ 70.41 | - 33.4% |
| 2002 | ₹ 71.65 | + 1.8% |
| 2003 | ₹ 76.35 | + 6.6% |
| 2004 | ₹ 98.60 | + 29.1% |
| 2005 | ₹ 122.18 | + 23.9% |
| 2006 | ₹ 159.38 | + 30.4% |
| 2007 | ₹ 138.57 | - 13.1% |
| 2008 | ₹ 61.57 | - 55.6% |
| 2009 | ₹ 134.34 | + 118.2% |
| 2010 | ₹ 161.56 | + 20.3% |
| 2011 | ₹ 131.42 | - 18.7% |
| 2012 | ₹ 129.96 | - 1.1% |
| 2013 | ₹ 209.64 | + 61.3% |
| 2014 | ₹ 207.68 | - 0.9% |
| 2015 | ₹ 209.93 | + 1.1% |
| 2016 | ₹ 177.75 | - 15.3% |
| 2017 | ₹ 235.05 | + 32.2% |
| 2018 | ₹ 247.69 | + 5.4% |
| 2019 | ₹ 245.95 | - 0.7% |
| 2020 | ₹ 386.25 | + 57.0% |
| 2021 | ₹ 715.20 | + 85.2% |
| 2022 | ₹ 392.80 | - 45.1% |
| 2023 | ₹ 470.80 | + 19.9% |
| 2024 | ₹ 546.05 | + 16.0% |
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- During 1993, the share price of Wipro was ₹ 0.44.
- If you had bought shares worth ₹ 2500 in 1993, you would have 56818 shares today.
- At the end of 2024, the current value of your shares would be ₹ 31025568.
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