Date: November 12, 2026
Joint Venture / Strategic Actions
- Kaynes Technology India Limited executed a binding term sheet dated November 12, 2026 for establishment of a joint venture through its wholly owned subsidiary Kaynes Semicon Private Limited (KSPL)
- Joint venture partners include Vishay Intertechnology, Inc. and its wholly-owned subsidiary Ecomal Nederland B.V.
- The joint venture will provide semiconductor back-end manufacturing services including post-fab wafer processing, assembly, test and packaging (OSAT)
- The venture will operate a Vishay captive line in India
- Vishay will invest in KSPL for a 49% stake
- The transaction remains subject to finalization of terms, execution of definitive agreements, required approvals and other customary closing conditions
Management Changes
- Mr. Raghu Panicker appointed as Managing Director and Chief Executive Officer of KSPL
- He will be responsible for day-to-day management and operation of the joint venture business
Event Timing
- Date of occurrence: November 12, 2026
- Time of occurrence: 19:16 IST