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Wipro IPO rises 19%
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October 19, 2000: 5:59 p.m. ET
Indian IT firm Wipro sees solid rise on first day of NYSE trading
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NEW YORK (CNNfn) - India-based Wipro Ltd., a global information technology service company, rose 19 percent Thursday on it first day of trading on the New York Stock Exchange.
Shares of Wipro rose $7.87 to $49.25. Wipro (WIT: Research, Estimates) raised about $122 million after pricing 2.75 million American depositary receipts (ADRs) at $41.
 Also traded on The Stock Exchange, located in Mumbai, India, Wipor is the largest Indian company in terms of market capitalization, according to documents filed with the U.S. Securities and Exchange Commission. One ADR is equal to one share traded in Mumbai.
Wipro's clients include Lucent (LU: Research, Estimates), Compaq (CPQ: Research, Estimates), and NCR (NCR: Research, Estimates). The company claims to be a leader in the Indian IT market.
The company had fiscal 2000 revenue of more than $526 million and earned more than $127 million.
Morgan Stanley Dean Witter led the offering. 
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Wipro
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