KPIT Technologies today announced relisting of its new stock on NSE and BSE. This follows KPIT’s merger and demerger transaction with Birlasoft, announced in January 2018 and effective from January 2019.
The transaction resulted in two publicly-traded specialised technology companies – KPIT Technologies - focused on automotive engineering and mobility solutions; and Birlasoft – focused on IT services.
KPIT got listed with the opening bell ringing ceremony at NSE, which was presided over by Ravi Pandit, chairman, KPIT and Kishor Patil, CEO and MD, KPIT and executive leadership from the company.
According to the tech company, 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 aims to further strengthens its position as a niche software solutions provider with specialisation in embedded software, AI (artificial intelligence) and digital solutions.
Ravi Pandit, co-founder, chairman and Group CEO, said: “Today is an important milestone for KPIT and marks 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 way for further value creation for all our stakeholders”
Kishor Patil, co-founder, CEO and MD, KPIT said “Our new vision is – 'Reimagining mobility with you for creation of a cleaner, smarter, safer world'. 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 our customers, talent, mobility ecosystem and partners to make this vision a reality. ”