Latest news with #Mysuru-headquartered
Business Upturn
03-07-2025
- 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.
India Gazette
02-06-2025
- Health
- India Gazette
Government backs Indian Startup pioneering domestic stroke treatment technology
Mysuru (Karnataka) [India], June 2 (ANI): A breakthrough in India's medical technology landscape has emerged with government backing for S3V Vascular Technologies, a Mysuru-headquartered company developing indigenous stroke intervention devices. The Technology Development Board has greenlit financial assistance for what could become India's first locally-manufactured mechanical thrombectomy system. Addressing a Critical Healthcare Gap Stroke treatment in India faces significant challenges due to expensive imported medical devices. Current thrombectomy procedures--which involve removing blood clots from brain arteries--rely almost entirely on foreign-made equipment, creating cost barriers that prevent many patients from accessing life-saving care. The minimally invasive thrombectomy technique has revolutionised acute stroke treatment, offering superior results compared to traditional clot-dissolving medications when performed promptly. Despite its effectiveness, the procedure remains financially out of reach for numerous Indian patients due to import-dependent pricing. Manufacturing Initiative Takes Shape S3V Vascular Technologies plans to establish comprehensive production capabilities at Tamil Nadu's Medical Devices Park in Oragadam, situated near Sriperumbudur. This facility will create a complete range of specialised neurological intervention instruments, encompassing microcatheters, aspiration systems, precision guidewires, and clot-retrieval stents. Dr. N.G. Vijaya Gopal, the company's founder and managing director, emphasises their commitment to reducing import dependency across the entire supply chain, not merely final assembly. The organisation has already begun pursuing international certifications, including CE marking and FDA approval, targeting export markets spanning Asia, Latin America, Europe, and North America. Strategic Investment Partners The venture has secured support from notable Indian business leaders and investment firms. Larsen & Toubro's Chairman Emeritus A.M. Naik, MK Ventures' Madhusudan Kela, and Rare Enterprises CEO Utpal Sheth have all committed capital to the project. This high-profile investor participation signals growing confidence in India's deep technology and import-substitution healthcare opportunities. Market Potential and Access Challenges India's neurological intervention sector represents approximately $2 billion in market value, yet treatment availability remains concentrated in major urban centres. Rural areas and smaller cities face particular difficulties accessing advanced stroke care due to infrastructure limitations and specialist shortages. S3V aims to bridge this accessibility gap through hospital partnerships focused on simulation-based education programs for emerging neuro-interventionists and radiologists, potentially expanding treatment capacity nationwide. Government Alignment and Innovation Technology Development Board Secretary Rajesh Kumar Pathak highlighted the project's strategic importance, noting its alignment with India's goals to establish the country as a global centre for affordable, sophisticated medical technologies. He emphasised that domestic healthcare innovation represents a crucial component of national health security. The company has developed proprietary intellectual property, including novel clot retriever designs and specialised braid-over-coil aspiration catheter structures. These patented innovations focus on enhancing device safety and effectiveness in challenging clinical situations. Integration with National Health Programs S3V is exploring collaboration opportunities with government healthcare initiatives, particularly integration with Ayushman Bharat and similar national schemes. Successful implementation could dramatically reduce thrombectomy procedure costs while improving patient outcomes across thousands of cases annually. (ANI)
