KPIT Technologies announces that promoters, Mr. Ajay Bhagwat and Ms. Ashwini Bhagwat, have requested a reclassification from the ‘Promoter’ to the ‘Public’ category. This reclassification reflects their current status as financial investors, having transitioned away from day-to-day operations over the past two decades. They are now focused on their independent business, Renu Electronics, and have not been on the Board of KPIT for the last 10 years. This change is not expected to affect the company’s governance, management, or control.
Promoter Reclassification Request
Mr. Ajay Bhagwat and Ms. Ashwini Bhagwat, original founders of KPIT Technologies, have formally requested to be reclassified from the ‘Promoter’ category to the ‘Public’ category. This announcement follows an initial intimation made on January 17, 2026.
Background and Rationale
Over the past two decades, Mr. Ajay Bhagwat and Ms. Ashwini Bhagwat have transitioned away from the daily operations of KPIT Technologies. They are now actively involved in their separate business venture, Renu Electronics, which specializes in industrial automation products and solutions. Furthermore, they have not served on the Board of KPIT for the preceding 10 years.
Implications of Reclassification
The shareholding of Mr. Ajay Bhagwat and Ms. Ashwini Bhagwat is now purely a financial investment. Consequently, this reclassification will not materially affect the managerial, strategic, or decision-making processes within KPIT Technologies. The reclassification is subject to customary approvals from the Board of Directors and stock exchanges.
Source: BSE
