Kaynes SemiCon investing Rs 2,850 crore in semiconductor assembly in Telangana
Kaynes SemiCon, a 100% subsidiary of Kaynes Technology, is investing Rs 2,850 crore in a facility in Hyderabad for outsourced semiconductor assembly and testing (OSAT), with automatic test equipment (ATE) and a reliability testing line, chief executive Raghu Panicker said.
The groundbreaking ceremony for the facility that will have 13 lines for OSAT, and one each for ATE and reliability testing was held recently.
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Offering CollegeCourseWebsiteIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIndian School of BusinessISB Digital TransformationVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitKaynes SemiCon will also invest Rs 83.28 crore in a research and development facility for silicon photonics for co-packaged optics in Mysuru. Parent Kaynes Technology is also making an investment of Rs 750 crore in Mysuru for a bare board printed circuit board plant.
Mysuru-based Kaynes Technology has a workforce of 3,500 people and annual revenue of Rs 1,665.71 crore, Panicker said. Based on its closing stock price of Rs 2,479.80, up 1.1%, on the BSE Wednesday, the company that made an initial public offering last year had a market value of Rs 14,418 crore.
Kaynes is a 38-year-old electronics manufacturing services (EMS) company with manufacturing infrastructure in Mysuru, Bengaluru, Chennai, Pune, Manesar and Parwanoo with service centres in Mumbai and Kochi.
“We are setting up an additional capacity for EMS infrastructure spread over 17 acres of land in Mysuru apart from a bare board PCB plant,” Panicker told ET.
In terms of approvals from the Ministry of Electronics and Information Technology for its OSAT facility in Hyderabad and the
