KPIT Cummins Infosystems Ltd has appointed ace deal-maker Manisha Girotra as an independent director to its board. UBS veteran Girotra has recently joined the boutique investment bank Moelis & Co. in India.
“Towards our goal of achieving $1 billion in revenues, our expansion and penetration in overseas markets are of primary significance. Manisha’s addition to our board will help us prepare ourselves better for faster and profitable growth,” said Ravi Pandit, chairman and group CEO of KPIT Cummins.
“KPIT Cummins’ leadership team has been driving consistent industry-leading performance of the company over the past eight quarters with a clear vision and a differentiated strategy, and I am looking forward to working with them,” said Girotra on her appointment.
KPIT Cummins provides IT and IT-enabled services including software development, maintenance, support and risk management. Last March, the firm was planning for acquisitions of the size of $20-45 million in the US.
KPIT Cummins, in which PE firm ChrysCapital owns 9.5 per cent stake, saw its share price rise 1.84 per cent to close at Rs 130.15 a unit on the BSE on Tuesday.
Prior to joining Moelis, Girotra was the chairperson and country head of UBS India where she spent around 13 years. She has extensive experience in areas like large corporate deals and mergers & acquisitions, and led large public issues in the US for companies such as Infosys, Genpact and WNS, along with the respective follow-on offerings.
Girotra was also involved with top deals such as IPCL-Reliance merger, VSNL privatisation and the multi-billion-dollar deal between Hutchison and Vodafone for Hutchison Essar. She had also successfully executed domestic IPOs of several companies including Reliance Petroleum, Reliance Power, Idea Cellular, Bharti Airtel and Adani Power, as well as the GDR issue of Tata Steel and GMR Group’s QIP.
(Edited by Sanghamitra Mandal)