Crime Today News
KPIT Technologies GmbH, a wholly owned step-down subsidiary of KPIT Technologies Limited (India), has invested €1.37 million in the share capital of its Tunisian subsidiary, KPIT engineering SUARL. The investment was confirmed after the company received an extract of increased capital registration from the Tunisian National Company Register.
The transaction resulted in the issuance of 451,110 shares to KPIT Germany. According to the company disclosure, this investment will not affect business operations or have any impact on financial reporting of the parent company.
KPIT engineering SUARL, established on May 5, 2023, is based in Sfax, Tunisia, and currently employs 574 people. The Tunisian subsidiary serves as a nearshore development center for Technica GmbH, which is its sole customer.
The investment is classified as a related party transaction as KPIT Tunisia is a wholly owned subsidiary of KPIT Germany. The company confirmed that promoters, promoter groups, and KPIT directors have no interest in this transaction.
This development was disclosed in a regulatory filing to the BSE Limited and National Stock Exchange of India Ltd in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements.
Many European companies, including those in Germany, have leveraged Tunisia’s nearshore capabilities for specialized development work. The country’s regulatory framework also facilitates foreign direct investment while ensuring operational compliance. In this context, KPIT Technologies’ capital infusion into its Tunisian subsidiary aligns with broader industry trends where firms seek efficient collaboration models within proximity to key European markets.
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