Electronics manufacturing company Kaynes Technology's CEO, Rajesh Sharma has stepped down to pursue opportunities outside the company, an exchange filing said on September 19, sending the shares sharply lower by up to 4 percent in mid-day trade, however, prices recovered after the company assured that a replacement has been identified and will be named 'shortly'.
The resignation was submitted by Rajesh Sharma on September 18, and his tenure will end with effective from October 31, 2025.
"At this juncture, I believe it is time for me to embark on a new professional journey to take up another exciting and challenging assignment. Therefore, I have decided to resign from my position as the Chief Executive officer of Kaynes Technology India Limited with effect from close of business hours on 31st October 2025," Rajesh Sharma said in his resignation.
Replacement Soon, says Kaynes Tech
In conversation with CNBC-TV18, the leadership at Kaynes Technology said the company has a candidate in mind for the CEO's position, who has been working with the company for the last one year. From November 1, 2025, the new CEO will be taking over, the EMS player confirmed, adding that in another 2-3 days the name will be formally notified.
The promoter added that Sharma had expressed desire to move back to Bengaluru, and the company is expanding its senior management cadre. The decision has been well-planned and Kaynes Tech has already brought in key people at various roles, which will be disclosed 'shortly'. The company's major operations are in Mysuru, and the management would like to keep it that way, said the promoter. "There will be 1-2 senior people who will be coming in", the promoter of Kaynes Tech told CNBC-TV18 during the conversation.
Kaynes Tech's Rise
CEO Rajesh Sharma cited several milestones in his resignation letter, including the successful IPO in 2022, from where the stock has had a near 850 percent rise to a market capitalisation of over Rs 50,000 crore at its peak. Along with the public listing, Sharma was instrumental in expanding manufacturing capacity and drove inorganic growth through domestic and global acquisitions.
Kaynes' Growth Plans
For FY26, Kaynes Technology said it may surpass Rs 4,500 crore in consolidated revenue and has set a target of $1 billion in revenue by FY28, and $2 billion by FY30.
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