Kaynes Technology invests $17.7m in subsidiary

Kaynes Technology India has announced a further investment of up to USD 17,700,000 in Kaynes Holding Pte. Ltd., its wholly-owned subsidiary in Singapore. This infusion of capital will facilitate the acquisition of up to 17,524,752 equity shares of Kaynes Holding at an issue price of USD 1.01 per share. The investment, approved by the company, is aimed at expanding the business presence of the subsidiary in the field of electronics system design and manufacturing, and undertaking strategic investments. Kaynes Holding's turnover is currently NIL, with other income reported at INR 41,48,723 for the fiscal year 2024-25. The acquisition is expected to be completed by June 30, 2026.