Bartronics stock hits 5% upper circuit after firm inks MoU with Singapore's PTW Group to develop semiconductor facilities in India

Bartronics India hits 5% upper circuit after signing MoU with PTW Group on semiconductor unit

Shares of Bartronics India Ltd. jumped 5 percent to hit the upper circuit at Rs 24.62 apiece on January 8. This comes after the company announced, in an exchange filing, that it has signed a Memorandum of Understanding (MoU) with Singapore’s PTW Group over both the parties’ intention to establish a semiconductor unit in India.

“The proposed merger of PTW and Bartronics aims to establish production, refurbishing, and training facilities in India to meet the growing demands of the semiconductor industry. Additionally, it will support R&D, manufacturing, workforce training, and international collaborations, aligning with India's goal of becoming a global semiconductor hub,” the exchange filing reads. “New facilities are planned to help establish new fabs in India, establish local production and refurbishment of semicon equipment, and offering training programs on semiconductor production, processes and equipment,” it further says.

The MoU reportedly marks the entry of Singapore-based semiconductor solutions provider PTW Group into the Indian market. PTW Group is engaged in the design, development, production and sales of silicon production equipment.

The MoU was signed in Hyderabad after a meeting with Sridhar Babu Duddilla, Telangana’s Minister of Information and Technology. Taking to X, the minister said, “Singapore based PTW Group’s willingness to invest Rs 1,000 crores in Telangana’s upcoming Fourth City proves that Hyderabad is the abundant source for skilled talent pool essential for semiconductor manufacturing and an ecosystem that boasts the industry to flourish.”

Bartronics India, which was founded in 1990, provides IT services based on biometrics, bar codes and more.