Kaynes Tech’s Founder, Ramesh Kunhikannan, Joins Forbes’ Billionaires List
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Ramesh Kunhikannan is one of 25 Indians who have made their debut on Forbes’ World’s Billionaires list for 2024. Kaynes Technology provided electronic systems for the mission.
Kunhikannan became a millionaire in November 2023, three months after the Chandrayaan-3 mission launched.
Forbes’ World’s Billionaires list for 2024, issued on Tuesday, included up to 25 new Indian names, including Ramesh Kunhikannan, the creator of Kaynes Technology, who has a net worth of $1.2 billion.
Kunhikannan’s fortunes skyrocketed following his company’s significant contribution to the Chandrayaan-3 mission, which made India the first country to land near the Moon’s south pole in August 2023. Kaynes Tech provided electronic systems to power the groundbreaking mission’s rover and lander.
Kunhikannan became a billionaire in November 2023, three months after the mission took place. Kaynes Tech is an electronics firm founded in 1989.
Kunhikannan, an electrical engineer, started the electronics firm in 1989 and went public in November 2022. The company’s shares have returned around 234% since their IPO.
The firm assembles printed circuit boards and has eight plants in India. Kaynes Technology is a pioneer in integrated electronics manufacturing in India, with over three decades of experience in various industries such as automotive, aerospace, and Internet of Things. With eight cutting-edge production units strategically positioned throughout India and service centers in key cities, we ensure close connectivity to our valued clients.
Our modern infrastructure, including clean rooms and cutting-edge testing equipment, allows us to offer high-quality solutions with accuracy and dependability. We are committed to quality and possess 10 worldwide certifications. We also follow social accountability norms. Kaynes is your go-to partner for end-to-end ESDM services, with a dedicated staff of over 1500 specialists serving over 250 satisfied clients across three continents.
According to Forbes, Kaynes serves 350 clients worldwide in the automotive, aerospace, and medical industries. Kunhikannan has a major 64% share in the Mysore-based corporation. His wife, Savitha Ramesh, serves as chairperson of the board.
Other Indians on the richest listing:
Other Indians who made their debut on the list were Kunhikannan; Medanta owner Naresh Trehan; Renuka Jagtiani, who leads Middle East retailing giant Landmark Group; Keshub Mahindra, chairman emeritus of Mahindra & Mahindra; and Ashwin Dani of Asian Paints.
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