Kaynes Technology Develops Iskraemeco India to Strengthen Energy Solutions

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Kaynes Technology Develops Iskraemeco India to Strengthen Energy Solutions
Kaynes Technology Develops Iskraemeco India to Strengthen Energy Solutions

For 43 crore, Kaynes Technology has announced that it has acquired all of Iskraemeco India, a business that specializes in smart meter solutions. Through the acquisition, Kaynes Tech hopes to enhance its energy management portfolio and broaden its selection of smart metering products. Iskraemeco Switzerland A.G. and Iskraemeco Merjenje were the previous owners of Iskraemeco India.

Overview of Iskraemeco India

Iskraemeco India is a company that provides, installs, uses, and maintains smart meters. The company’s 265.42 crore turnover in the most recent fiscal year demonstrated its consistent presence in the smart metering sector.

 Acquisition Details

  • Kaynes Technology would purchase 4.29 crore equity shares, valued at 210 per share, from Iskraemeco India. 
  • With a total transaction value of €42.98 crore, Kaynes Tech has effectively acquired full ownership of the target company.

 Strategic Importance

The acquisition is thought to be Kaynes Technology’s calculated move to strengthen its position in the expanding smart meter and energy management sector. Through the integration of Iskraemeco’s resources and skills, Kaynes hopes to strengthen its production capabilities, extend its market share in the energy solutions industry, and enhance its supply chain.

It is anticipated that this acquisition will improve Kaynes Technology’s capacity to provide cutting-edge energy management services, ultimately assisting in meeting the increasing demand for intelligent energy solutions from a variety of industries.

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