KPIT Technologies GmbH (KPIT Germany), a wholly owned step-down subsidiary of KPIT Technologies Limited (KPIT India), has invested EUR 1.37 million (approximately ₹ 12.33 crore, conversion rate considered as 1 EUR = ₹ 90) towards the share capital of KPIT engineering SUARL, Tunisia (KPIT Tunisia), which is also a wholly owned step-down subsidiary.
This investment resulted in the issuance of 4,51,110 shares to KPIT Germany.
KPIT Tunisia is a nearshore development center primarily serving Technica GmbH.
The company clarified that this transaction, being a related party transaction, will not have any impact on the business, financial reporting, or operations of KPIT Technologies Limited.