Kaynes Technology updates credit ratings, leadership appointments

Kaynes Technology India Limited received updated credit ratings from both ICRA and CRISIL. ICRA Limited assigned an [ICRA] A- (Positive); Outstanding rating to the company’s long-term fund-based cash credit and packing credit facilities, totaling INR 216.00 crore. Separately, CRISIL Rating Limited assigned a "CRISIL A/Watch developing" rating to Kaynes Technology India Limited's long-term bank facilities, amounting to INR 770 crore, noting a "Rating Watch with Developing Implications."

In governance updates, shareholders approved the appointment of Dr. Muthukumar Narayanaswamy as a director and managing director with 97.83% votes in favor. The company also announced a change in designation for Mr. Ramesh Kunhikannan to executive vice chairman, a whole time director, with 99.93% votes in favor. Both resolutions were passed by the requisite majority through a postal ballot and e-voting process.