Kaynes Technology India Limited [BSE: 543664; NSE: "KAYNES"], proudly announces the acquisition of controlling stake (54% - Fifty-Four Percentage) by its wholly owned subsidiary Kaynes Holding Pte. Ltd ("Kaynes Singapore") in Sensonic GmbH, Austria ("Sensonic Austria", a body corporate registered under the laws of Austria), by way of subscription of shares. This strategic acquisition strengthens Kaynes Technology's position as an innovation-driven organization and expands its presence in global infrastructure technology markets.
The transaction, completed after regulatory approvals, underscores Kaynes Technology's commitment to advancing smart, sustainable solutions in infrastructure monitoring and management. Sensonic, headquartered in Austria, brings cutting-edge capabilities in railway safety and efficiency through its applications such as track condition monitoring, landslide detection, and security enhancements powered by artificial intelligence and machine learning.
With this acquisition, the combined expertise of Kaynes Technology and Sensonic promises to deliver superior technological solutions to customers worldwide. This partnership integrates Sensonic's advanced fiber optic sensing technologies with Kaynes Technology's proven track record in manufacturing excellence and IoT innovation.
Mr. Ramesh Kunhikannan, Managing Director of Kaynes Technology, said, "This acquisition marks a pivotal milestone in our mission to revolutionize technological solutions in infrastructure and electronics. Sensonic's cutting-edge applications align seamlessly with our vision of delivering transformative innovation that propels progress. Together, we are poised to create exceptional value for our customers and partners while advancing railway safety and efficiency on a global scale. Further, I take this opportunity to thank our JV Partners viz., Fraushcer Sensor Technology Group GmbH and Sintela FS LLP for onboarding us as JV partner for a successful journey together."
Sensonic's CEO, Mr. Alok Sinha added, "Becoming a part of Kaynes Technology marks an exciting new chapter for Sensonic, providing our team and technology with enhanced opportunities to scale and create a broader global impact, deliver nextgeneration railway solutions, driving safety, sustainability, and operational excellence worldwide."
Shares of Kaynes Technology India Limited was last trading in BSE at Rs. 6232.30 as compared to the previous close of Rs. 6323.35. The total number of shares traded during the day was 32947 in over 5005 trades.
The stock hit an intraday high of Rs. 6485.00 and intraday low of 6152.20. The net turnover during the day was Rs. 206943227.00. |
