Sanand: Kaynes Semicon, the semiconductor arm of Kaynes Technology, will deliver its first chip from its outsourced semiconductor assembly and testing (OSAT) facility in Sanand, Gujarat, by the first week of October, a news report said.

“Our first product will be handed over to customers in October. From approvals to delivery in under a year is record time, and it shows the speed and commitment with which the company is working,” CEO Raghu Panicker told FE. The company is projecting revenues of $10 million for FY25 and expects to break even within 18 months. Furthermore, a public listing is on the cards once revenues cross $100 million, a milestone targeted within two-and-a-half years.

The Sanand facility is being developed under the India Semiconductor Mission (ISM), part of the government’s ₹76,000-crore semiconductor incentive scheme. With an investment of about ₹23,300 crore, it will be among the first OSAT units in the country run by an Indian company, equipped with pilot production lines and backend testing infrastructure. DeshGujarat