KPIT Technologies Closes 5 % Higher In Stock Market Debut

KPIT Technologies Ltd., previously known as KPIT Engineering Ltd., listed its automotive engineering and mobility solutions business today as part of a three-step deal involving a merger and then a demerger with CK Birla Group’s Birlasoft Ltd..The company, which started trading at Rs 100 apiece on the Bombay Stock Exchange, rose 5 percent through the trading hours to close at an intraday high of Rs 105 per share.“KPIT Technologies had gone through the merger and demerger with a view to bring out a sharp-focused company,” its Chairman and Group Chief Executive Officer Ravi Pandit told BloombergQuint in an interview, adding that the company will focus on the automotive industry..Auto industry is at a cusp of a major technology change. We believe we can be the leaders in that space. Ravi Pandit, Chairman and Group CEO, KPIT Technologies.KPIT Technologies’ OutlookSees a top line growth of 20 percent onboardExpects an 18 percent growth in the Ebitda in the coming 1.5 to 2 yearsThe company has a strong delivery base in Germany, the U.S., Japan and China and it would continue to focus on the same moving forward, Pandit said..Watch the full interview here:.KPIT Technologies-Birlasoft Deal: Key Things To Know

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KPIT Technologies Closes 5 % Higher In Stock Market Debut

Bloomberg Quint