Overview

• The companies announced plans for an outsourced semiconductor assembly and test operation in Sanand, Gujarat led jointly by UST and Kaynes Semicon.
• UST will contribute AI-driven process improvements, real-time data analysis and digital engineering to complement Kaynes Semicon’s manufacturing expertise.
• The firms said UST’s global semiconductor client base will help bring new international customers to Indian assembly and testing services.
• Kaynes Semicon will issue 27,778 compulsorily convertible preference shares to UST for up to 10% equity, with 5% converting at deal close and the remainder tied to revenue milestones.
• The announcement did not specify a construction timeline, production capacity, job creation figures or details of any government incentives or approvals.