UST and Kaynes Semicon Partner to Establish Rs 3,330 Crore OSAT Facility in Gujarat

UST has announced a joint venture with Kaynes Semicon to establish a Rs 3,330 crore OSAT facility in Gujarat. The collaboration is set to drive innovation in electronics and consumer technology, aligning with India's goal to become a global semiconductor hub. Kaynes Semicon will allocate shares to UST for this venture.

In a significant move towards strengthening India's semiconductor industry, California-based technology firm UST announced a joint venture with Indian semiconductor manufacturer Kaynes Semicon. On Monday, they confirmed the establishment of a Rs 3,330 crore Outsourced Semiconductor Assembly and Test (OSAT) facility in Sanand, Gujarat.

This strategic investment is set to enhance collaboration between UST and Kaynes Semicon, focusing on innovation in electronics, electric vehicles, renewables, and consumer technology. It supports India's ambitions to become a global semiconductor hub, as stated in a company release.

Kaynes Semicon plans to issue 27,778 compulsorily convertible preference shares to UST, offering up to 10 percent share capital upon conversion. This venture will leverage UST's expertise in digital engineering and AI-driven processes, crucial for achieving scale and reliability while minimizing costs.

(With inputs from agencies.)