Wipro
Founded in 1945 as a vegetable oil company by Mohamed Hasham Premji, Wipro has evolved into a global IT, consulting, and business process services leader. Under Azim Premji, it shifted to IT in the 1980s, becoming a pioneer in Indian computing. Today, it is a $10B+ revenue company operating in 65 countries with over 240,000 employees.
Key Historical Phases of Wipro:
- 1945–1970s: Humble Beginnings (Consumer Goods): Founded as Western India Vegetable Products Limited in Amalner, Maharashtra, producing sunflower vanaspati and soaps.
- 1970s–1980s: The IT Pivot: Following Mohamed Hasham Premji's death in 1966, Azim Premji took over. Recognizing potential, the company rebranded to Wipro Products Limited in 1977 and launched its first minicomputer in 1981, marking a shift toward information technology.
- 1990s: Globalization and Software Services: Wipro moved from hardware into software services and entered the global market, getting listed on the New York Stock Exchange (NYSE) in 2000.
- 2000s–Present: Diversification and Digital Focus:
- 2012: De-merged non-IT businesses (consumer care, lighting) into Wipro Enterprises to focus on technology.
- 2023: Reorganized business lines to prioritize high-growth areas like Artificial Intelligence (AI) and cloud technology.
Key Facts & Legacy:
- Leadership: Azim Premji stepped down in 2019, turning control over to a new generation, with his son Rishad Premji serving as chairman.
- Philanthropy: A massive 67% of Wipro's promoter stake is committed to the philanthropic activities of the Azim Premji Foundation.
- Current Status: Wipro is a top global player specializing in digital transformation, cybersecurity, and data analytics.
Mohamed Hasham Premji was a prominent businessman, known as the "Rice King of Burma," who founded Western Indian Vegetable Products Ltd (now Wipro) on December 29, 1945, in Amalner, Maharashtra. Initially focused on hydrogenated oil and soap, his company set the foundation for the multinational IT giant Wipro, which was later transformed by his son, Azim Premji, after Mohamed's passing in 1966.
Background and Rise to "Rice King"
- Origin: Born into a Gujarati Ismaili Khoja Muslim family with deep commercial roots, Mohamed Hasham Premji was a prominent rice merchant.
- Burma Operations: His family operated a formidable trading business in Burma (now Myanmar). By the 1930s and 1940s, his massive success in the grain trade earned him the nickname "the Rice King of Burma".
- Independence Decision: During the partition era, Muhammad Ali Jinnah invited him to move to Pakistan, but he turned down the request, choosing to remain in India.
Founding of Wipro
- Incorporation: On December 29, 1945, towards the end of World War II, he incorporated Western Indian Vegetable Products Limited in Amalner, Maharashtra.
- Initial Business: The company began by producing sunflower vanaspati (hydrogenated vegetable oil) and laundry soap (787 brand).
- Vision: He pivoted from pure trading to manufacturing, identifying the need for consumer goods in a market that was undersupplied.
Legacy and Transition
- Death and Succession: Mohamed Hasham Premji passed away in 1966.
- Leadership Change: His son, Azim Premji, was 21 years old and studying engineering at Stanford University at the time, but returned to India to take charge of the company.
- Company Evolution: Following his death, the company under Azim Premji began a massive diversification, transitioning from consumer products to IT services in the late 1970s and 1980s, eventually becoming known as Wipro Limited.
