KPIT invests EUR 1.37m in Tunisian subsidiary

KPIT Technologies announced today that its wholly-owned step-down subsidiary, KPIT Technologies GmbH (“KPIT Germany”), has invested EUR 1.37 million in KPIT Engineering SUARL, Tunisia (“KPIT Tunisia”). This investment will be used to increase the share capital of the Tunisian subsidiary, with KPIT Germany acquiring 451,110 shares. KPIT Engineering SUARL is a nearshore development center for Technica GmbH. The company confirms this transaction will not impact KPIT's financial reporting or business operations. The company also noted that the transaction qualifies as a related party transaction.