KPIT Technologies Closes 5 % Higher In Stock Market Debut
The company’s stock began trading at Rs 100 apiece on BSE, rising 5 percent to hit an intraday high of Rs 105 per share.
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: