KPIT Cummins gets money for allotment

Kpit Cummins Infosystems Ltd has informed that the Company has received US $ 5,000,000 towards the consideration for allotment of 1,510,877 equity shares. The exchange rate applied at time of computing the consideration INR equivalent was 39.31 (being the RBI reference rate as at October 16, 2007).

The exchange rate on conversion of the USD remittance to INR was 39.29 (prevailing rate as at November 19, 2007). The resultant difference in the INR amounts owing to these rates represents exchange loss and has been accounted for accordingly.