mergers & acquisitions new orders corporate actions
Kaynes Technology India Limited will invest up to USD 8.8 million (approximately ₹73.33 Crore) in its wholly-owned subsidiary, Kaynes Holding Pte. Ltd., acquiring up to 87,12,872 equity shares at USD 1.01 per share.
The investment aims to expand the business presence in electronics system design and manufacturing and facilitate strategic investments/acquisitions.
Completion is expected by 31 July 2025.
Kaynes will also provide corporate guarantees aggregating up to ₹250 Crore to various banks on behalf of Kaynes Canada Ltd, a wholly-owned subsidiary of Kaynes Holding Pte Ltd.
The guarantee will enable Kaynes Canada Ltd to avail debt from various banks.
Ramesh Kunhikannan and Jairam Paravastu Sampath, directors of Kaynes Technology, also serve as directors in Kaynes Holding Pte. Ltd and Kaynes Canada Ltd.