KPIT Technologies Ltd - 542651 - Announcement under Regulation 30 (LODR)-Updates on Acquisition
We wish to inform you that, (in accordance with Regulation 30 read with Part A of Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ('SEBI Regulations')) the Company has decided not to go ahead with the proposed agreements entered with Vayavya Labs Private Limited ('VL') and its shareholders for acquiring majority stake in VL. In view of the changed environment due to the ongoing pandemic, both KPIT and VL have mutually decided not to go ahead with the proposed transaction. This will have no impact on the KPIT revenue and profit outlook for this year.02-11-2020