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Elliott Buys Tiny Stake in Wipro in First India IT Firm Holding

  • The hedge fund owns 1.855 million ADRs or about a 0.04% stake
  • Elliott owns over 4% of Cognizant, which has an India presence

Billionaire Paul Singer’s Elliott Management Corp. has bought a stake in Wipro Ltd., its first ever purchase of an Indian-based software outsourcer.

The New York hedge fund acquired 1.855 million American depositary receipts, or about 0.04 percent of Wipro’s share capital, according to a filing with the U.S. Securities & Exchange Commission.