Oracle sells database, cloud infrastructure and business applications in India and runs large product development and support teams in the country. It also controls Mumbai based Oracle Financial Services Software, which builds banking software.
Ownership and structure
Oracle holds a controlling stake in the listed Oracle Financial Services Software through Oracle Global (Mauritius) Limited, which owned 72.41 percent as of June 30, 2026. It also runs development centres in Bengaluru and Hyderabad. Oracle Financial Services Software Limited is listed on the NSE and BSE under the symbol OFSS.
What India does for Oracle
India is one of Oracle's largest product development and services bases outside the United States and the home of its listed banking software subsidiary.
Investment and deals
In August 2005 Oracle paid US$593 million for Citigroup's 41 percent stake in i flex Solutions, now Oracle Financial Services Software.
Oracle's India business
Oracle cut jobs in India in March 2026. Oracle bought Citigroup's 41 percent stake in i flex Solutions in 2005 and raised its holding to about 83 percent in 2007.
I flex Solutions was renamed Oracle Financial Services Software in 2008 and is headquartered in Mumbai. Oracle Financial Services Software had 8,754 employees in 2024.
Key moves in India
- 1994: Oracle opened its India Development Centre in Bengaluru for database and tools development.
- 1999: Oracle opened a second development centre in Hyderabad focused on ERP products.
- 2005: Oracle bought Citigroup's 41 percent stake in i flex Solutions for US$593 million.
- 2007: Oracle raised its holding in i flex Solutions after an open offer to minority shareholders.
- 2008: I flex Solutions was renamed Oracle Financial Services Software in April.
- 2026: Oracle cut jobs in India in March as part of global cost reductions.
Where it operates
Oracle has a presence in Mumbai, Bengaluru and Hyderabad.
At a glance
- Home country: United States
- Global headquarters: Austin
- Sector: Technology & AI
- Business: Software
- Role of India: R&D and engineering hub, Global delivery and operations, Sales market
- India offices: Mumbai, Bengaluru, Hyderabad
- India headcount: Not available
- Listed in India: Oracle Financial Services Software Limited (OFSS)
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