KPIT Technologies Ltd

KPIT Technologies Ltd

KPIT Technologies Limited is a global partner to the automotive and Mobility ecosystem for making software-defined vehicles and reality. It is a leading independent software development and integration partner helping mobility leapfrog towards a clean smart and safe future. With 11000+ automobelievers across the globe specializing in embedded software AI and digital solutions KPIT accelerates its clients' implementation of next-generation technologies for the future mobility roadmap. The Company has a footprint worldwide with engineering centres in Europe the USA Japan China Thailand and India.KPIT Technologies Limited (Formerly known as KPIT Engineering Limited) was incorporated on January 08 2018. The Company received Certificate from the Registrar of Companies for change in its name from KPIT Engineering Limited to KPIT Technologies Limited with effect from March 13 2019. As on March 31 2019 the Company had 11 subsidiaries and 1 associate company.During the year 2018-19 the Company incorporated subsidiaries in Singapore and USA for expanding its operations. Further as a result of demerger the subsidiaries of KPIT Technologies Limited (renamed as Birlasoft Limited) incorporated in Japan UK & USA became subsidiaries of KPIT Engineering Limited (renamed as KPIT Technologies Limited).During the year 2018-19 the Company received the Order from Mumbai Bench of Hon'ble National Company Law Tribunal (NCLT) for the Composite Scheme of Arrangement amongst Birlasoft (India) Limited (Transferor Company) and KPIT Technologies Limited (Transferee Company) (renamed as Birlasoft Limited) and KPIT Engineering Limited (Company or Resulting Company) (renamed as KPIT Technologies Limited) and their respective shareholders on November 29 2018. Birlasoft (India) Limited was merged into KPIT Technologies Limited (which is now renamed as Birlasoft Limited) and engineering business was demerged into the Company (formerly KPIT Engineering Limited). The said Scheme became effective with effect from January 15 2019. As a result of demerger the employees were transferred from KPIT Technologies Limited (renamed as Birlasoft Limited) to the Company with effect from the appointed date as per the Composite Scheme i.e. January 1 2019. Further the Company allotted 274143808 equity shares of Rs 10/- each on January 29 2019. In terms of the Scheme and other agreements which were executed between Birlasoft (India) Limited KPIT Technologies Limited (renamed as Birlasoft Limited) KPIT Engineering Limited (renamed as KPIT Technologies Limited) and other parties the promoters of the Company and the promoters of Birlasoft Limited have acquired joint control of the Company.During year 2019-20 equity shares of the Company got listed on National Stock Exchange of India Limited and BSE Limited effective from April 22 2019.As on March 31 2020 the total institutional shareholding in the Company was 35.94% to the total share capital.As on March 31 2020 the Company had 12 subsidiaries and 1 associate company. As on March 31 2021 the total institutional shareholding in the Company was 36.36% to the total share capital.As on March 31 2021 the Company had 11 subsidiaries and 1 associate company. On September 22 2021 the Board of Directors purchased 25% shareholding in Future Mobility Solutions GmbH (FMS).During year 2021-22 Impact Automotive Solutions Limited a wholly owned subsidiary merged with KPIT Technologies Limited effective on June 22 2021. As on March 31 2022 the total institutional shareholding in the Company was 28.31% to the total share capital.As on March 31 2022 the Company had 14 subsidiaries and 3 associate company.During year 2022-23 the Company acquired Somit Solutions Limited (SOMIT) UK through KPIT Technologies (UK) Limited w.e.f. May 31 2022. Similarly it acquired Technica Engineering GmbH Technica Electronics Barcelona S.L. Technica Engineering Spain S.L. through KPIT Technologies GmbH and Technica Engineering Inc. through KPIT Technologies Inc. w.e.f. October 01 2022 for a consideration of Euro 80 million. Qorix GmbH was incorporated as wholly owned subsidiary company in Germany effective 10 March 2023.