Kaynes Technology India Limited announced a further investment of up to USD 1,030,000 (United States Dollar One Million Thirty Thousand Only), which is approximately ₹8.58 crore, in its wholly-owned subsidiary, Kaynes Holding Pte. Ltd.
This investment is for the acquisition of up to 10,19,802 Equity Shares of Kaynes Holding Pte. Ltd. at an issue price of USD 1.01 per share.
Kaynes Holding Pte. Ltd. was incorporated on 19 June 2024 in Singapore and is engaged in electronics system design and manufacturing, as well as facilitating strategic investments/acquisitions.
As per un-audited financials for FY 2024-25, Kaynes Holding Pte. Ltd. reported NIL turnover, other income of ₹41,48,723, and a net worth of ₹65,32,65,485 as of 31 March 2025.
The transaction is expected to be completed by 31 August 2025 and involves a cash consideration.
Post-investment, Kaynes Technology India Limited will continue to hold 100% shareholding in Kaynes Holding Pte. Ltd.