Kaynes Technology India Limited to Acquire Iskraemeco India for ₹42.99 crore

Kaynes Technology India Limited has announced the acquisition of Iskraemeco India Private Limited, a leading provider of smart metering solutions. This strategic move aims to enhance Kaynes’ product offerings and strengthen its position in the market.

Through a Share Purchase Agreement executed on September 28, 2024, Kaynes will acquire 100% of Iskraemeco India’s equity shares for a total consideration of ₹42,98,59,750. This acquisition will make Iskraemeco India a wholly-owned subsidiary of Kaynes Technology.

The acquisition of Iskraemeco India is expected to be completed within 30 days from the signing of the Share Purchase Agreement.

Key Highlights of the Acquisition:

• Expansion of Product Line: Kaynes will add smart metering solutions to its existing portfolio, catering to a wider range of customer needs.
• Synergies and Growth: The combination of Kaynes’ expertise in technology and Iskraemeco India’s focus on smart metering is expected to drive growth and create synergies.
• Strengthened Market Position: This acquisition will solidify Kaynes’ position as a leading player in the technology industry.

Iskraemeco India was incorporated in 2019 and specialises in the supply, installation, operation, and maintenance of smart metres. The company has witnessed significant growth in recent years, with its turnover increasing from ₹14.96 crore in 2022 to ₹65.42 crore in 2024.

This acquisition aligns with Kaynes Technology’s strategic vision of expanding its business and providing innovative solutions to its customers. The company remains committed to investing in growth and delivering value to its shareholders.

About Kaynes Technology India Limited 

Kaynes Technology India Ltd is a prominent integrated electronics manufacturing company that offers comprehensive end-to-end and IoT solutions. The company specialises in conceptual design, process engineering, integrated manufacturing, and lifecycle support for key players across various sectors, including automotive, industrial, aerospace and defence, outer space, nuclear, medical, railways, IoT, and Information Technology (IT).

On September 30, 2024, the share price of Kaynes Technology India Ltd opened at ₹5,580.00, touching the day’s low at ₹5,486.05, as of 9:51 AM on the NSE.

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