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’ Outlook
- Sees a top line growth of 20 percent onboard
- Expects an 18 percent growth in the Ebitda in the coming 1.5 to 2 years
The 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: