 "deal, merger")
KPIT Technologies hit a 52-week high of Rs 223, up 6% on BSE in otherwise subdued market after the information technology (IT) company announced a restructuring plan.
C K Group-owned KPIT Technologies and Birlasoft have announced a merger to create an over $700-million combined entity. The entity would be demerged into two separate companies later. The first entity, which would focus on digital business IT services, would be known as Birlasoft, while the other business, which would focus on automotive engineering and mobility solutions, would be known as KPIT Technologies.
“The board has approved a draft composite scheme
C K Group-owned KPIT Technologies and Birlasoft have announced a merger to create an over $700-million combined entity. The entity would be demerged into two separate companies later. The first entity, which would focus on digital business IT services, would be known as Birlasoft, while the other business, which would focus on automotive engineering and mobility solutions, would be known as KPIT Technologies.
“The board has approved a draft composite scheme
