Kaynes Tech Incorporates New Arm To Make Space Satellites

Electronics manufacturer Kaynes Technology India Ltd has incorporated a wholly-owned subsidiary to venture into the space sector.

Kaynes Space Technology will design, develop and manufacture satellites of all classes and mission-specific payloads for diverse applications such as communication, Earth observation, defence and scientific research, the company said in a regulatory filing.

NDTV Profit reported the development first.

Kaynes Technology India’s chief financial officer Jairam P Sampath will act as a director in Kaynes Space Tech, representing Kaynes Tech on its board.

Kaynes Space Technology aims to create modular satellite platforms and indigenous launch vehicles for various orbits (LEO, MEO, GEO, and beyond), focusing on cost-effective, reusable and sustainable technologies. 

The subsidiary has received an investment of INR 10 Lakh ($11.7K) from the parent entity.

Kaynes Space Tech will invest in research and development in areas like space propulsion, miniaturisation, AI-based autonomy and inter-satellite networks by collaborating with academic institutions, space agencies and industry.

Kaynes Space Tech has also proposed to undertake operations primarily in India.

With the new unit, Kaynes seeks to establish complete infrastructure for launch operations, ground control systems, and satellite lifecycle management, including mission planning, integration, and in-orbit servicing, based on the filing.

The company further said that it will develop space-based applications like border surveillance and disaster monitoring, and continuously upgrade its technologies to stay at the forefront of space innovation.

Shares of the company ended 1.6% higher at INR 5,863.30 apiece on the BSE during the intraday trading session yesterday, compared to its previous close of INR 5,770.55 per share.

Meanwhile, Kaynes Technology India’s another subsidiary Kaynes Semicon, along with L&T Semiconductor Technologies (LTSTC), are set to acquire the power modules business of Japan’s Fujitsu General Electronics for INR 118.32 Cr (around $13.8 Mn).

Further, reports also surfaced that Kaynes Semicon is planning to deliver India’s first packaged semiconductor chip by July.

India’s Bold Leap In Space Sector

The development comes at a time when the country has been seeing a rising interest in the space sector, with global satcom players seeking a spot in the market.

In May, Starlink got a letter of intent from the Department of Telecommunications (DoT) to operate satellite-based internet services in India. Following which, it also received another licence from the telecom ministry. 

Additionally, Amazon’s Project Kuiper and Apple vendor Globalstar have also filed applications for satcom licences in the country.

Meanwhile, Indian telecom companies such as Vodafone Idea (Vi) partnered with US-based AST SpaceMobile to launch direct-to-device satellite broadband services in the country, while Airtel-backed Eutelsat OneWeb and Reliance-backed Jio SES received GMPCS licence from regulators and are waiting for approvals to commence commercial operations in the country.