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Kaynes Technology approves $17.7 million additional investment in Singapore subsidiary
Kaynes Technology approves $17.7 million additional investment in Singapore subsidiary

Business Upturn

time03-07-2025

  • Business
  • Business Upturn

Kaynes Technology approves $17.7 million additional investment in Singapore subsidiary

By Aditya Bhagchandani Published on July 3, 2025, 19:40 IST Kaynes Technology India Limited announced on Thursday that its board has approved a further investment of up to USD 17.7 million (approximately ₹147 crore) in its wholly owned subsidiary, Kaynes Holding Pte. Ltd., incorporated in Singapore. In a regulatory filing, the company said it will acquire up to 17,524,752 equity shares of Kaynes Holding Pte. Ltd. at an issue price of USD 1.01 per share, in one or more tranches. This will increase Kaynes Holding's total paid-up capital from approximately 16.9 million shares to 34.5 million shares, with Kaynes Technology continuing to hold 100% ownership. Kaynes Holding was established in June 2024 as a strategic arm for the group's global expansion in electronics system design, manufacturing, and strategic investments. For FY25, the subsidiary reported a net worth of approximately ₹65.3 crore and other income of ₹41.5 lakh (unaudited), but no turnover yet. The company stated the additional funds will help strengthen its presence in electronics manufacturing and facilitate strategic acquisitions in line with its growth ambitions. The investment is expected to be completed by June 30, 2026, and will be made through cash. Kaynes Technology's Managing Director, Ramesh Kunhikannan, and Whole Time Director & CFO, Jairam Paravastu Sampath, also serve on the board of Kaynes Holding, representing the parent company. The transaction, however, does not fall under the definition of a related party transaction as per SEBI norms. Kaynes Technology is a Mysuru-headquartered electronics manufacturing and design company with a growing international footprint. The company's shares are listed on BSE (Scrip code: 543664) and NSE (Symbol: KAYNES). The company said the details of the investment have also been published on its website: Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.

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