Shares in Kaynes Technology India Ltd. rose 7.75 percent after announcing a partnership with Karnataka’s electronics, IT and BT ministries in a Memorandum of Understanding (MoU) to foster innovation.
The collaboration positions Kaynes Technology as the backbone of Mysore’s Electronic Systems Design and Manufacturing (ESDM) semiconductor ecosystem and is expected to enhance Mysore’s global presence in the technology sector.
Under the agreement, Kaynes Semicon Private Limited will lead the establishment of a semiconductor assembly and test (OSAT) facility. Concurrently, Kaynes Circuits India Private Limited will lead the establishment of a printed circuit board (PCB) manufacturing facility specializing in the production of complex multilayer boards.
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This landmark MoU will propel Karnataka to the forefront of OSAT and PCB manufacturing with an investment of Rs 100 Cr. 37.5 billion rupees, creating about 3,200 job opportunities.
Shares rose 7.75 percent to Rs. 2003 at 10:26 am, BSE.
