Wipro Ltd on Wednesday clarified that company Chairman Azim Premji had stated in Mumbai that the IT major would consider accessing the capital markets only if the need for funding large acquisitions arose.
Wipro, in a clarification on the company's plans to raise funds for overseas acquisitions, said: "In response to a specific query from the media on Tuesday in Mumbai as to whether Wipro was planning to access capital markets, the chairman
had stated that currently the company had no plans to raise capital. However, the company would consider the option only if the need arose for funding large acquisitions."
Premji also stated in response to a supplementary that if the acquisition target was an overseas company, the resources required would be raised through American depository receipts.
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