Wipro shares gain 3% after bagging Olam deal worth more than $1 billion

Shares of Wipro Limited rallied as much as 3% to their day’s high of Rs 201 on the BSE on Monday, after the company announced a major multi-year strategic transformation deal with Olam Group, marking one of its largest engagements. The company has secured an 8-year contract with the total deal value expected to exceed $1 billion, including a committed spend of $800 million.

Under the engagement, Wipro will deliver end-to-end transformation services to Olam Group through a consulting-led and AI-powered approach. The company will leverage its industry expertise, partnerships with leading technology providers, and its Wipro Intelligence platform suite to support the transformation.

The scope of the deal will span Olam Group’s ‘farm-to-fork’ value chain, covering areas such as farming, forecasting, trading, supply chain operations, and customer engagement. The objective is to enhance operational effectiveness, improve resilience, and support long-term growth at scale.

Olam Group, a Singapore-headquartered food and agri-business with a valuation of over $50 billion, employs nearly 40,000 people and is majority owned by Temasek Holdings.

As part of the agreement, Wipro will also acquire Olam Group’s IT and digital services arm, Mindsprint. Upon completion, Mindsprint will become a wholly owned subsidiary of Wipro, subject to regulatory approvals and customary closing conditions. The transaction is expected to be completed by the end of Q1 FY27, that is by, June 2026.

Primarily based in India, Mindsprint has over 3,200 professionals and has been a key enabler of Olam Group’s digital transformation journey. It brings deep domain expertise in the food and agri-business sector, along with strong capabilities in supply chain transformation, digital platforms, and proprietary IP-led solutions.

Its offerings include Farmsprint for plantation management, Procuresprint for AI-enabled procurement transformation, SprintAP for payables transformation, Salessprint for sales operations, and Tradesprint for commodity trading and risk management.Commenting on the development, Olam Group Co-Founder and Group CEO Sunny Verghese said the partnership with Wipro brings together Mindsprint’s sector expertise and Wipro’s global capabilities to drive transformation across the value chain.

Wipro CEO and Managing Director Srini Pallia said the engagement is a key step in expanding the company’s farm-to-fork capabilities and scaling the impact of its AI-led offerings in the food and agri-business segment.

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