-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 HvDZKMYcBhQmKpExZ6297eU/1ssoYAHgoMM5916ltD+AeYRmHH1AvzTN/QQ/5vHM
 5lVcg1cXnfPW1o3bE/KgAw==

<SEC-DOCUMENT>0000891618-02-004528.txt : 20021003
<SEC-HEADER>0000891618-02-004528.hdr.sgml : 20021003
<ACCEPTANCE-DATETIME>20021003171253
ACCESSION NUMBER:		0000891618-02-004528
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20021003
ITEM INFORMATION:		Acquisition or disposition of assets
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		20021003

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WIPRO LTD
		CENTRAL INDEX KEY:			0001123799
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16139
		FILM NUMBER:		02781305

	BUSINESS ADDRESS:	
		STREET 1:		SURVEY #76P & #80P DODDAKANAHALLI VILLAG
		STREET 2:		VARTHUR HOBLI SARJAPUR RD BANGALORE
		CITY:			INDIA 560035

	MAIL ADDRESS:	
		STREET 1:		SURVEY #76P & #80P DODDAKANAHALLI VILLAG
		STREET 2:		VARTHUR HOBLI SARJAPUR RD BANGALORE
		CITY:			INDIA 560035
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>f84731a1e8vkza.htm
<DESCRIPTION>FORM 8-K/A
<TEXT>
<HTML>
<HEAD>
<TITLE>Wipro Ltd. Amendment No.1 to Form 8-K / 10-03-2002</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center"><FONT size="2">SECURITIES AND EXCHANGE COMMISSION</FONT>

<P align="center"><FONT size="2">Washington, D.C. 20549</FONT>

<P align="center"><FONT size="2">FORM 8-K<BR>
CURRENT REPORT</FONT>

<P align="center"><FONT size="2">(AMENDMENT NO. 1)</FONT>

<P align="center"><FONT size="2">Pursuant to Section&nbsp;13 or 15(d) of the<BR>
Securities Exchange Act of 1934</FONT>

<P align="center"><FONT size="2">October&nbsp;3, 2002</FONT>

<HR width="46%" align="center" size="1" noshade>

<DIV align="center"><FONT size="2">(Date of Report) (Date of earliest event reported)</FONT></DIV>

<P align="center"><FONT size="2">Wipro Limited</FONT>

<HR width="46%" align="center" size="1" noshade>

<DIV align="center"><FONT size="2">(Exact name of registrant as specified in its charter)</FONT></DIV>

<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="32%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="32%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="32%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">Karnataka, India</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
001-16139
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">98-015-4401</FONT></TD>
</TR>
<TR>
        <TD align="center" valign="middle"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="middle"><FONT size="2">
<HR size="1" noshade>
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="middle"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">(State or other jurisdiction<BR>
of incorporation)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
(Commission<BR>
File Number)
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">(IRS Employer<BR>
Identification No.)</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">Doddakannelli, Sarjapur Road, Bangalore, Karnataka 560035, India</FONT>

<HR width="46%" align="center" size="1" noshade>

<DIV align="center"><FONT size="2">(Address of principal executive offices)</FONT></DIV>
<p>
<P align="center"><FONT size="2">&#043;91-80-844-0011</FONT>

<HR width="26%" align="center" size="1" noshade>

<DIV align="center"><FONT size="2">Registrant&#146;s telephone number, including area code:</FONT></DIV>

<P align="center"><FONT size="2">&nbsp;
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>


<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;2. Acquisition or Disposition of Assets</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;7. Financial Statements and Exhibits</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">INDEX TO EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="f84731a1exv2w7.txt">EXHIBIT 2.7</A></TD></TR>
<TR><TD colspan="9"><A HREF="f84731a1exv99w2.txt">EXHIBIT 99.2</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>






<!-- link2 "Item&nbsp;2. Acquisition or Disposition of Assets" -->
<DIV align="left"><A NAME="000"></A></DIV>
<P align="left"><FONT size="2">Item&nbsp;2. Acquisition or Disposition of Assets</FONT>

<P><FONT size="2">On July&nbsp;31, 2002, we acquired equity shares and warrants to purchase equity
shares of Spectramind Limited, a limited liability company incorporated in
Bermuda, pursuant to a Sale and Purchase Agreement with ChrysCapital I, LLC.
We also acquired equity shares and options to purchase equity shares of
Spectramind eServices Private Limited, an indirect subsidiary of Spectramind
Limited, incorporated in India, pursuant to Securities Sale and Purchase
Agreements with senior management and other employees of Spectramind eServices.
We paid an aggregate consideration of Rs. 3,691&nbsp;million ($75.82&nbsp;million) in
cash, with Rs. 2,549&nbsp;million ($60.49&nbsp;million) of the consideration from the
proceeds of our initial U.S. public offering of American Depositary Shares in
October 2000, and the balance of the consideration from working capital. As of
the close of the transactions on July&nbsp;31, 2002, we held 82% of Spectramind
Limited on a fully diluted basis and 80% of Spectramind eServices on a fully
diluted basis, which includes shares we previously held in the company.
</FONT>

<P><FONT size="2">We entered into Call and Put Option Agreements with the senior management and other employee optionholders of
Spectramind eServices on July&nbsp;17, 2002, as amended on
September&nbsp;27, 2002 by the Supplemental Call and Put Option
Agreement. Pursuant to these agreements, we may acquire up to an additional 13%, on a fully
diluted basis, of Spectramind eServices. Each of the Call and Put Option
Agreements provide us with the option to purchase any shares of Spectramind
eServices that are purchased by its senior management and other employees
pursuant to the exercise of their outstanding options to purchase equity
shares. Our option to purchase such shares expires 190&nbsp;days after the shares
are purchased by the individual senior manager or employee, as provided for in
the Call and Put Option Agreements. Additionally, each senior
manager and other employee has a put option, within 190&nbsp;days of acquiring the
shares, to require us to purchase such shares. The consideration payable for
such shares will be the fair market value of such shares at the time the put or
call option is exercised.
</FONT>

<P><FONT size="2">On September&nbsp;24, 2002, we acquired additional equity shares and warrants to
purchase equity shares of Spectramind eServices. We paid an aggregate
consideration of Rs. 170&nbsp;million ($3.51&nbsp;million) in cash from our working
capital. As of the close of this transaction, we held approximately 81% of
Spectramind eServices on a fully diluted basis. From time to time hereafter,
we may acquire additional equity interests in Spectramind Limited and
Spectramind eServices. Any such future purchase(s) will be disclosed in the
financial statements in our Quarterly Reports on Form&nbsp;6-K or Annual Reports on
Form&nbsp;20-F after the completion of such purchase(s).
</FONT>
<!-- link2 "Item&nbsp;7. Financial Statements and Exhibits" -->
<DIV align="left"><A NAME="001"></A></DIV>
<P align="left"><FONT size="2">Item&nbsp;7. Financial Statements and Exhibits</FONT>


<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="90%">
<TR valign="bottom">
        <TD width="8%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="87%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"  align="left"><FONT size="2">(c)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Exhibits</FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">*2.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Share Sale and Purchase Agreement-ChrysCapital dated July&nbsp;18, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">*2.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Form of Securities Sale and Purchase Agreement by and among
Wipro Limited, Spectramind eServices Private Limited and
Employee-Shareholders of Spectramind eServices Private Limited,
dated July&nbsp;17, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">*2.3</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Form of Call and Put Option Agreement by and among Wipro
Limited, Spectramind eServices Private Limited and
Employee-Optionees of Spectramind eServices Private Limited dated
July&nbsp;17, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">*2.4</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Form of Call and Put Option Agreement by and among Wipro
Limited, Spectramind eServices Private Limited and Senior
Management-Shareholders of Spectramind eServices Private Limited
dated July&nbsp;17, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">*2.5</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Form of Securities Sale and Purchase Agreement by and among
Wipro Limited, Spectramind eServices Private Limited and Senior
Management-Shareholders of Spectramind eServices Private Limited
dated July&nbsp;17, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">*2.6</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Authorisation Agreement between Wipro Limited and Raman Roy, dated July&nbsp;17, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;2.7</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Supplemental Call and Put Option Agreement dated September&nbsp;27, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">*99.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Press release dated August&nbsp;1, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;99.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Press release dated September&nbsp;2, 2002.</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P>
<HR size="1" width="18%" align="left" noshade>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">*</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Previously filed with Registrant&#146;s Report on Form&nbsp;8-K filed
on August&nbsp;15, 2002</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">1
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>
<P align="center"><FONT size="2">SIGNATURES</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
</FONT>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="45%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="45%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">Date: October&nbsp;3, 2002</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>

        <TD align="left" valign="top"  colspan="3"><FONT size="2">WIPRO LIMITED<BR><BR><BR></FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">/s/ Suresh C. Senapaty</FONT></TD>
</TR>
<TR>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="middle"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Suresh C. Senapaty<BR>
Executive Vice President,
Finance</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">2
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P align="left"><FONT size="2"><B>Table of Contents</B></FONT>

<!-- link1 "INDEX TO EXHIBITS" -->
<DIV align="left"><A NAME="003"></A></DIV>
<P align="center"><FONT size="2">INDEX TO EXHIBITS</FONT>


<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="90%">
<TR valign="bottom">
        <TD width="8%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="87%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">Exhibits</FONT></TD>


</TR>
<TR valign="bottom">
        <TD><HR size="1" noshade></TD>

</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">*2.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Share Sale and Purchase Agreement-ChrysCapital dated July&nbsp;18, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">*2.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Form of Securities Sale and Purchase Agreement by and among
Wipro Limited, Spectramind eServices Private Limited and
Employee-Shareholders of Spectramind eServices Private Limited,
dated July&nbsp;17, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">*2.3</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Form of Call and Put Option Agreement by and among Wipro
Limited, Spectramind eServices Private Limited and
Employee-Optionees of Spectramind eServices Private Limited dated
July&nbsp;17, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">*2.4</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Form of Call and Put Option Agreement by and among Wipro
Limited, Spectramind eServices Private Limited and Senior
Management-Shareholders of Spectramind eServices Private Limited
dated July&nbsp;17, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">*2.5</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Form of Securities Sale and Purchase Agreement by and among
Wipro Limited, Spectramind eServices Private Limited and Senior
Management-Shareholders of Spectramind eServices Private Limited
dated July&nbsp;17, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">*2.6</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Authorisation Agreement between Wipro Limited and Raman Roy, dated July&nbsp;17, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;2.7</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Supplemental Call and Put Option Agreement dated September&nbsp;27, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">*99.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Press release dated August&nbsp;1, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;&nbsp;99.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Press release dated September&nbsp;2, 2002.</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P>
<HR size="1" width="18%" align="left" noshade>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">*</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Previously filed with Registrant&#146;s Report on Form&nbsp;8-K filed on August
15, 2002</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">3
</FONT>

</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2.7
<SEQUENCE>3
<FILENAME>f84731a1exv2w7.txt
<DESCRIPTION>EXHIBIT 2.7
<TEXT>
<PAGE>
                                                                     EXHIBIT 2.7



                   SUPPLEMENTAL CALL AND PUT OPTION AGREEMENT


This SUPPLEMENTAL CALL AND PUT OPTION AGREEMENT is made as of this the 27th day
of September, 2002 by and between:


A.      _____________________, son / daughter / wife of _______________________,
        residing at ____________________________________________________________
        (hereinafter referred to as "OPTIONEE" which expression shall unless it
        be repugnant to the context be deemed to include his legal heirs,
        executors and administrators);

B.      WIPRO LIMITED, a company incorporated under the Companies Act ,1956,,
        having its registered office at Doddakannelli, Sarjapur Road, Bangalore
        560 035, (hereinafter referred to as "WIPRO" which expression shall
        unless it be repugnant to the context be deemed to include its
        successors and assigns); and

C.      SPECTRAMIND ESERVICES PRIVATE LIMITED, a company incorporated under the
        Companies Act ,1956,, having its registered office at 239, Okhla
        Industrial Estate Phase III, New Delhi 110020, India (hereinafter
        referred to as "COMPANY" which expression shall unless it be repugnant
        to the context be deemed to include its representatives, successors and
        assigns).

And is supplemental to the Call and Put Option Agreement - _____________________
executed between the Parties hereto (hereinafter referred to as the "PRINCIPAL
CALL AND PUT OPTION AGREEMENT")

WHEREAS

A.      By the Principal Call and Put Option Agreement, Optionee and Wipro
        executed a Call and Put Option over the Option Shares subject to and in
        accordance with the terms and conditions of stated there under.

B.      With a view to accurately reflect their mutual understanding, the
        Parties propose to amend and vary certain definitions in the Principal
        Call and Put Option Agreement.

NOW THEREFORE, IN CONSIDERATION OF THE MUTUAL COVENANTS AND AGREEMENTS MADE
HEREIN, THE PARTIES HEREBY AGREE TO AMEND THE PRINCIPAL STOCK OPTION AGREEMENT
AS FOLLOWS:


1.      MODIFICATION OF DEFINITION OF  CALL/PUT OPTION PERIOD

        The definition of Call/Put Option Period shall now read as follows -

        "CALL/PUT OPTION PERIOD" shall mean the six months period commencing
        from the day which is 190 days following each of the Acquisition Date



<PAGE>

2.      MODIFICATION OF DEFINITION OF FAIR MARKET VALUE

        The definition of Fair Market Value shall now read as follows -

        "FAIR MARKET VALUE" shall mean the value of each Equity Share, based on
        enterprise value of the Company divided by the number of shares of the
        Company on a fully diluted and as fully converted basis, as applicable
        for the quarter in which the Notice Date falls. The enterprise value
        will be as determined by an External Independent Valuer of international
        repute, as the case may be by reference to (i) liquidity, (ii) yield
        capabilities, (iii) book value, and (iv) average metrics of the top five
        listed global companies comparable in the same space in which the
        Company is operating. The Fair Market Value shall be determined
        initially as of April 1st 2003 and thereafter on at least a semi-annual
        basis commencing from such date.


3.      OTHER TERMS AND CONDITIONS

        Save as aforesaid the other terms and conditions stated in the Principal
        Call and Put Option Agreement shall remain unchanged and shall continue
        to be in full force and effect.

IN WITNESS WHEREOF the Parties hereto have caused this Supplemental Call and Put
Option Agreement to be executed as of the day and year first above written

        SIGNED BY                                         )
        OPTIONEE BEING                                    )

        In the presence of                                )


        SIGNED BY                                         )
        For and on behalf of                              )
        WIPRO LIMITED                                     )

        In the presence of                                )


        SIGNED BY                                         )
        For and on behalf of                              )
        SPECTRAMIND ESERVICES PRIVATE LIMITED             )

        In the presence of                                )

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>4
<FILENAME>f84731a1exv99w2.txt
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<PAGE>
                                                                    EXHIBIT 99.2



                                  [WIPRO LOGO]



FOR IMMEDIATE RELEASE

           WIPRO INCREASES STAKE IN SPECTRAMIND ESERVICES PRIVATE LTD.

BANGALORE, SEPTEMBER 2, 2002: Wipro Limited (NYSE:WIT) announced today that it
had entered into a definitive agreement to acquire the entire equity holding
that is owned by American Express Travel Related Services Company, Inc. in
Spectramind eServices Private Limited, comprised of equity shares and warrants,
for an aggregate consideration of Rs. 170 million ($3.5 million).

As part of the agreement, Wipro will acquire from American Express Travel
Related Services Company, Inc. equity shares representing 2% of the outstanding
equity shares of Spectramind eServices Private Limited, and warrants to purchase
equity shares of the company. These equity shares and rights to purchase equity
shares represent approximately 4.5% of the equity of Spectramind eServices
Private Limited on a fully diluted basis. On completion of the transaction,
Wipro's aggregate interest in the company will be approximately 92% of all
outstanding equity shares, which represents 81% of the company on a fully
diluted basis. Wipro's aggregate interest in Spectramind Limited, a limited
liability company incorporated under the laws of Bermuda and indirect parent of
Spectramind eServices Private Limited, is approximately 89% of the company on a
fully diluted basis.

The closing of the transaction is subject to customary closing conditions and
regulatory approvals.

ABOUT WIPRO LIMITED
Wipro Limited is the first P CMM Level 5 and SEI CMM Level 5 certified IT
Services Company globally. Wipro provides comprehensive IT solutions and
services, including systems integration, Information Systems outsourcing,
package implementation, software application development and maintenance, and
research and development services to corporations globally.

In the Indian market, Wipro is a leader in providing IT solutions and services
for the corporate segment in India offering system integration, network
integration, software solutions and IT services. Wipro also has profitable
presence in niche market segments of consumer products and lighting. In the Asia
Pacific and Middle East markets, Wipro provides IT solutions and services for
global corporations.

Wipro's ADSs are listed on the New York Stock Exchange, and its equity shares
are listed in India on the Stock Exchange - Mumbai, and the National Stock
Exchange, among others.

For more information, please visit our websites at www.wipro.com,
www.wiprocorporate.com and www.wipro.co.in



<PAGE>

ABOUT SPECTRAMIND
Spectramind is one of India's largest third-party BPO services provider with a
wide range of both voice and non-voice based services. Spectramind offers a full
spectrum of end-to-end solutions to global organizations across a wide range of
industries. Spectramind has offices in the U.S. and two state-of-the-art service
facilities in New Delhi and Mumbai, India with a combined capacity of over 5,000
employees. For more information please visit our website at www.spectramind.com



FORWARD LOOKING AND CAUTIONARY STATEMENTS
Certain statements in this release concerning our future growth prospects are
forward looking statements, which involve a number of risks, and uncertainties
that could cause actual results to differ materially from those in such forward
looking statements. The risks and uncertainties relating to these statements
include, but are not limited to, risks and uncertainties regarding fluctuations
in earnings, our ability to manage growth, intense competition in IT services
including those factors which may affect our cost advantage, wage increases in
India, our ability to attract and retain highly skilled professionals, time and
cost overruns on fixed-price, fixed-time frame contracts, client concentration,
restrictions on immigration, our ability to manage our international operations,
reduced demand for technology in our key focus areas, disruptions in
telecommunication networks, our ability to successfully complete and integrate
potential acquisitions, liability for damages on our service contracts, the
success of the companies in which Wipro has made strategic investments,
withdrawal of fiscal governmental incentives, political instability, legal
restrictions on raising capital or acquiring companies outside India,
unauthorized use of our intellectual property and general economic conditions
affecting our industry. Additional risks that could affect our future operating
results are more fully described in our filings with the United States
Securities and Exchange Commission. These filings are available at www.sec.gov.
Wipro may, from time to time, make additional written and oral forward looking
statements, including statements contained in the company's filings with the
Securities and Exchange Commission and our reports to shareholders. Wipro does
not undertake to update any forward-looking statement that may be made from time
to time by or on behalf of the company.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
