June 2024

2 briefs archived this month.

• Startup

  Wipro Merges North American Designit Units and Deregisters Australian Subsidiary

  Indian IT services giant Wipro has consolidated its corporate structure by merging two North American subsidiaries, Designit North America and Wipro Designit Services, effective July 1. Alongside this consolidation, Wipro deregistered its step-down Australian subsidiary, Attune Australia Pty Ltd, on June 26. The move aims to streamline group operations and optimize business efficiencies. Wipro Designit Services recorded a turnover of $48 million as of March 31, 2024, while Designit North America generated $1.6 million. The deregistered Australian entity had reported operational revenue of 269,554 Australian dollars during the same financial period.

  Jun 28 · indianweb2.com

• Funding

  Flipkart-Backed BlackBuck Prepares Up to $300 Million IPO

  Flipkart-backed trucking network BlackBuck is preparing for an initial public offering (IPO) to raise up to $300 million in the upcoming fiscal year. The Bengaluru-based logistics platform has already converted itself into a public entity to enable fundraising from public market investors. BlackBuck has appointed merchant bankers and legal advisors to assist with the public issue and commenced drafting its Draft Red Herring Prospectus (DRHP). The proceeds will be deployed to expand its digital freight network, scale operations, and enhance customer services across India's supply chain ecosystem.

  Jun 17 · Indianweb2.com