Kaynes Technology maintains $1 billion revenue target for FY28

Mysuru-based Kaynes Technology has reiterated its revenue target of $1 billion by the fiscal year 2027-28 (FY28), even as one of its promoters sold a 1.8% stake worth ₹624 crore to fund a long-term project in Mysuru. The company said it is on track to meet its growth plans and is preparing to raise ₹1,600 crore through a qualified institutional placement (QIP) to support its next phase of expansion.

Jairam Sampath, Whole-Time Director and CFO of Kaynes Technology, explained the rationale behind the recent promoter stake sale. “One promoter wants…