KPIT, a product engineering and IT consulting partner to automotive, manufacturing and energy companies, said its promoter on Monday purchased 43.75 lakh shares through Proficient Finstock LLP.
Following the acquisition, the total promoter stake in KPIT has increased to 18.94 per cent. However, to fund the transaction, Proficient has additionally pledged 1.2 crore shares, taking the total pledged shares by it to 1.43 crore shares, which is 50 per cent of its holding.