Qualcomm Technologies joins as strategic minority shareholder, with KPIT and ZF as significant shareholders in QORIX

KPIT Technologies Limited had earlier announced regarding approval of the Board of Directors of the Company for the Joint Venture Investment Agreement ("JV Agreement") between KPIT Technologies Limited ("KPIT") and ZF Friedrichshafen AG ("ZF") to invest into a currently 100% KPIT subsidiary, Qorix GmbH an independent company focused on the creation of worldclass automotive middleware stack. The company also announced the incorporation of the wholly owned step-down subsidiary named "QORIX INDIA PRIVATE LIMITED" (Qorix India) by Qorix GmbH post-merger control approvals.

The company had announced about, infusion towards the equity contribution and transfer of relevant Intellectual Property Rights (IP's) to Qorix GmbH as per applicable regulatory norms. On June 29, 2024, the company announced infusion of Euro 1.35 million by ZF towards capital contribution and in quarterly result investor update June 2024, informed that ZF has completed initial Cash and IP contributions to Qorix GmbH. Post infusion, Qorix GmbH has become a Joint Venture Company of KPIT & ZF having 50:50 ownership.

Now, Qualcomm Ventures LLC ("Qualcomm") is introduced as a third shareholder in the Qorix GmbH, the Joint venture, with an option for Qualcomm to increase shareholding upto Euro 10 million. The extract of registration for introducing Qualcomm as a third shareholder in the Qorix GmbH by way of increasing Share Capital & Alteration of Article of Association of the Qorix GmbH issued by German Commercial Register, received by Company on March 13, 2025.

As a result of this partnership, Qualcomm as a strategic minority shareholder, joining KPIT and ZF as significant shareholders to further strengthen its position as a leading provider of middleware solutions for Software-Defined Vehicles (SDVs).

Shares of KPIT Technologies Limited was last trading in BSE at Rs. 1206.75 as compared to the previous close of Rs. 1233.85. The total number of shares traded during the day was 19225 in over 1586 trades.

The stock hit an intraday high of Rs. 1249.10 and intraday low of 1201.10. The net turnover during the day was Rs. 23472494.00.

Source : Equity Bulls

Keywords

KPITTechnologies INE04I401011 JV QorixGmbH ZFFriedrichshafenAG QorixIndia QualcommVenturesLLC Invetment