KPIT Technologies has announced a restructuring process where they will, in step one, amalgamate KPIT Technologies with BirlaSoft and, in step two, demerge the engineering business of KPIT into KPIT Engineering Ltd and then at some point in time both of these entities will be listed.
In an interview with CNBC-TV18, Kishor Patil, Co-Founder, CEO & MD, KPIT Technologies poke about the latest happenings in his company and sector.
Last few years the company has started focusing on two separate businesses within KPIT, one was IT and the second is automotive engineering services and products.
Need a new focus to build on the digital opportunity while in automotive engineering, we have to go deeper in the domain in terms of pure technologies development and it will remain much more focus on certain technologies, he said.
Taking feedback from shareholders with respect to restructuring for last few years. Restructuring of business will be positive for all stakeholders, he added.
Automotive business could see 15–20% growth going ahead, said Patil.
Open offer price is in-line with Securities and Exchange Board of India’s (SEBI) pricing formula, he further mentioned.For full interview, watch accompanying video...