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KPIT Technologies Ltd.

BSE: 542651 Sector: IT
NSE: KPITTECH ISIN Code: INE04I401011
BSE 00:00 | 06 Dec 488.25 -9.75
(-1.96%)
OPEN

489.15

HIGH

510.75

LOW

485.00

NSE 00:00 | 06 Dec 488.20 -9.65
(-1.94%)
OPEN

491.00

HIGH

510.80

LOW

485.25

OPEN 489.15
PREVIOUS CLOSE 498.00
VOLUME 212654
52-Week high 530.70
52-Week low 104.25
P/E 77.13
Mkt Cap.(Rs cr) 13,385
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 489.15
CLOSE 498.00
VOLUME 212654
52-Week high 530.70
52-Week low 104.25
P/E 77.13
Mkt Cap.(Rs cr) 13,385
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

KPIT Technologies Ltd. (KPITTECH) - Company History

KPIT Technologies Limited ((formerly KPIT Engineering Limited) was incorporated in the year January 08 2018. The Company provides Technology solutions in embedded software for the Automobile and Mobility Industry. As on March 31 2019 the Company had 11 subsidiaries and 1 associate company.During the year under review the entire pre-demerger share capital of the Company was cancelled extinguished and annulled in terms of Clause 25 of 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. Further pursuant to the said Scheme the Company allotted 274143808 equity shares of Rs10/- each in the ratio of 1:1 on January 29 2019 and thus the issued subscribed and paid-up capital of the Company as on March 31 2019 is 2741438080 consisting of 274143808 equity shares of Rs10/- each.During the year 2019 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).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 engineering business of the Company includes solutions of electronic or mechanical engineering and usage of this data for diagnostics maintenance and tracking of assets and related connectivity solutions including data and analytics beyond embedded or mechanical engineering and their connectivity and integration with backend IT systems and platforms and this will remain the core business of the new engineering Company going forward. The said Scheme became effective with effect from January 15 2019. Further the Company allotted 274143808 equity shares of Rs10/- each on January 29 2019. In terms of the Scheme and as provided for in the Implementation Agreement 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 the year under review 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.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) and KPIT Engineering Limited (Company or Resulting Company) (renamed as KPIT Technologies Limited) and their respective shareholders on November 29 2018.

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