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KPIT Technologies Ltd. - Updates

By Religare

KPIT Technologies Ltd has informed about certain inter-promoter entity transactions in the shareholding of the Company.In order to safeguard against volatility of prices and have more than adequate cover for share pledges Mr. Kishor Patil, Promoter of the Company has sold 1.125 million shares to Proficient LLP, a promoter of the Company, wherein Mr. Kishor Patil is a partner.Proficient LLP has pledged similar part of its shares in order to obtain a loan for purchasing these shares from Mr. Patil. The completion of these transactions, will have no impact on the status of total promoter holding and the total pledged shares of the promoters. The overall pledged shares of promoters will reduce in view of share price changes (independent of this transaction).

Story first published: Thursday, August 6, 2015, 12:20 [IST]
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