KPIT Technologies Limited has provided an update regarding a request for reclassification received from its promoters, Mr. Ajay Bhagwat and Ms. Ashwini Bhagwat. The company stated that these individuals were among the early founders but have not been involved in the day-to-day operations for the past two decades. They have been pursuing independent business interests through their company, Renu Electronics, and have not been on the Board of KPIT for the last 10 years.

Consequently, their shareholding is now considered a financial investment with no managerial, strategic, or decision-making role in KPIT Technologies. The company believes this reclassification from the ‘Promoter’ category to the ‘Public’ category will not impact its governance, management, or control.

This reclassification is subject to the approval of the Board of Directors of KPIT Technologies and both the BSE Limited and the National Stock Exchange of India Limited.