Chandrayaan-3 has not only marked a milestone for India and ISRO but has also transformed the fate of individuals and companies associated with its success. Operating on a budget less than that of a Hollywood movie, Chandrayaan-3 made significant step in space exploration, particularly on the moon’s south side. This historic space mission not only reshaped India’s space attempt but also had effect on the industry supporting it. Among those beneficiaries is a 60-year-old engineer Ramesh Kunhikannan, who now officially holds the status of a billionaire with a net worth exceeding Rs 9,166 crore (1.1 billion dollars).
The man behind this newfound wealth is the founder of Kaynes Technology, Ramesh Kunhikannan, who established the company in 1989. Initially focusing on contract electronics manufacturing, Kaynes Technology expanded its reach over the years, venturing into diverse sectors such as automotive, aerospace, medical, and defense industries. In 2022, Kunhikannan took the company public.
Based in Mysore, Kaynes Technology specializes in assembling printed circuit boards and serves 350 clients worldwide.Along with the eight factories across India, the company has become a key player in the electronics manufacturing industry. Currently, Ramesh Kunhikannan holds a 64% stake in the company, benefiting from the ‘Make in India’ program in recent years. He is a graduate in electrical engineering from the National Institute of Engineering, Mysore. Kunhikannan has 33 years of experience in the electronic manufacturing services industry.
Kaynes Technology’s value in the stock market has gone up three times since it started trading. As the company played a big role in the Chandrayaan-3 mission, its reputation has grown, and its value increased by 40%. As India is happy about Chandrayaan-3’s success, people like Ramesh Kunhikannan, who contributed to this achievement, are not just seeing the country’s success in space but also getting rewarded for their part in it.