Kaynes Technology India Ltd.’s shares were up by 7.75 per cent after the company reported a partnership with the Karnataka Electronics, IT, and BT Departments by signing a Memorandum of Understanding (MoU) aimed at fostering innovation.
This collaboration positions Kaynes Technology as the anchor of the Electronics System Design and Manufacturing (ESDM) Semiconductor ecosystem in Mysuru, and it is expected to elevate Mysuru’s global presence in the tech arena.
Under this agreement, Kaynes Semicon Private Limited will lead the establishment of a Semiconductor Assembly and testing (OSAT) facility. At the same time, Kaynes Circuits India Private Limited will spearhead the setup of a Printed Circuit Board (PCB) manufacturing plant specialising in complex multi-layered boards.
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This landmark MoU is set to propel Karnataka to the forefront of OSAT and PCB manufacturing, with a substantial investment of Rs. 3,750 crore, creating approximately 3,200 job opportunities.
The shares were up by 7.75 per cent to Rs. 2003 at 10.26 a.m. on the BSE.