The company had merged, demerged with Birlasoft
KPIT Technologies Ltd. has announced the listing of its new stock on the NSE and BSE following the merger and demerger with Birlasoft.
The stock listed at ₹100 and closed with a gain of 5% at ₹105 on the BSE, valuing the company at ₹2,878.51 crore.
The transaction resulted in the creation of two publicly-traded technology companies — KPIT Technologies focused on automotive engineering and mobility solutions, and Birlasoft which is focused on IT services.
“The world of mobility is in for a paradigm shift, something that has not been witnessed in the last 100 years and this is driven by software. With a sharp focus on technology solutions, KPIT further strengthens its position as a niche software solutions provider with specialisation in embedded software, AI (artificial intelligence) and digital solutions,” the company said.
Ravi Pandit, co-founder, chairman and group CEO, KPIT said, “Today is an important milestone for KPIT and marks the completion of the merger-demerger transaction. We are very excited about the start of our new journey.
“Over the last 20 years we have built strengths that help us become a focused automotive engineering and mobility solutions company. We believe this new beginning will pave the way for further value creation for all our stakeholders,” he said.
Kishor Patil, Co-founder, CEO & MD, KPIT, said, “The paradigm shift in mobility gives us an opportunity to think afresh.
“We want to be a key participant in this shift to build a new world of mobility. We are geared to achieve this by building platforms, tools, accelerators, innovative business models and delivering across the globe,” We will work with ourcustomers, talent, mobility ecosystem and partners to make this vision areality,” he added.