Wipro Raises Aggne Stake To 80%, Strengthens Insurance-Focused AI And Transformation Capabilities

Mumbai: IT services company Wipro Ltd has announced that its step-down subsidiary, Wipro IT Services, LLC, will acquire an additional 20 percent stake in Aggne Global Inc for USD 28.5 million. With this acquisition, Wipro’s total holding in the company will rise from 60 percent to 80 percent.

The transaction is expected to be completed by June 5, 2026, according to a regulatory filing made by the company on Monday.

Builds On Earlier Acquisition

Wipro had earlier acquired a 60 percent stake in Aggne Global Inc and Aggne Global IT Services Private Limited in February 2024. The transaction was completed on February 14, 2024.

The latest investment reflects Wipro’s continued confidence in Aggne’s business model and growth prospects. The payment for the additional stake will be made entirely in cash and will be subject to standard closing adjustments.

Focus On Insurance And AI Services

Aggne Global is part of the Aggne Group, which provides information technology, consulting and managed services to companies in the Property and Casualty Insurance industry.

The company specialises in artificial intelligence-based solutions and intellectual property-led services that help insurers improve operations, increase efficiency and enhance customer experience.

Wipro said the additional stake acquisition will further strengthen its capabilities in the insurance sector, particularly in AI-driven transformation services.

Strong Revenue Growth

Aggne Group has reported steady growth in recent years. Its annual turnover stood at USD 18.9 million in FY24, which increased to USD 24.2 million in FY25 and further rose to USD 27.5 million in FY26.

The growth highlights the increasing demand for specialised technology solutions in the insurance industry.

No Regulatory Hurdles

Wipro clarified that no government or regulatory approvals are required for the transaction. The company also stated that the deal is not a related-party transaction and that neither its promoters nor promoter group entities have any interest in Aggne Global.

Shares of Wipro ended the day at Rs 206.45 on the BSE, gaining Rs 2.25 or 1.10 percent from the previous close.