Wipro Increases Aggne Stake to 80%; Aarvi Encon Wins Indonesia Deal
By Sivam
Wipro boosts Aggne stake to 80% for insurance sector growth. Aarvi Encon’s Indonesian unit secures a Rs 15.87 Cr manpower supply contract.
Wipro’s Strategic Insurance Play
Wipro is set to bolster its presence in the insurance sector by acquiring an additional 20% stake in Aggne Global IT Services, increasing its total shareholding to 80%. This move aims to strengthen its competitive edge in the Property & Casualty (P&C) Insurance sector, particularly in driving AI and IP-led transformations.
- Wipro to acquire an additional 20% stake in Aggne Global IT Services.
- Total shareholding to reach 80%.
- Transaction expected to complete by June 30, 2026.
- Focus: AI and IP-led transformations in the P&C Insurance sector.
Earlier, Wipro and its step-down subsidiary, Wipro IT Services, LLC, had acquired a 60% stake in the company.
Aarvi Encon Secures Indonesia Contract
In other corporate news, Aarvi Encon’s step-down subsidiary, PT. Aarvi Encon Services, Indonesia, has been awarded a significant work contract for manpower supply. This deal, secured from a leading multinational EPC company, is for a duration of two years.
- Contract value: Approximately Rs 15.87 crore.
- Awarded to: PT. Aarvi Encon Services, Indonesia.
- Duration: Two years, effective from June 15, 2026.
- Service: Manpower supply.
Aarvi Encon specializes in providing engineering and manpower outsourcing services both in India and internationally.