KPIT Technologies GmbH Invests €1.37 Million in KPIT Engineering SUARL, Tunisia

KPIT Technologies GmbH, a wholly owned step-down subsidiary of KPIT Technologies Limited, has invested €1.37 million towards the share capital of KPIT Engineering SUARL, Tunisia, a wholly owned step-down subsidiary. This transaction is a related party transaction and is a nearshore development center for Technica GmbH, the sole customer of KPIT Tunisia. The cost of acquisition is €1.37 million, and 451,110 shares are issued to KPIT Germany. KPIT Tunisia, incorporated on May 5, 2023, has a workforce of 574 employees. This investment will not affect the business, financial reporting, or operations of the company.